XRP on triangle formation.Bitcoin falling - Ethereum Falling.
However the fall across the crypto board is not that visible on the XRP (and quite a few others).
Is it the intrinsic fundamental of the use of XRP that's holding it?
Is XRP trying to touch the previous fame of $3?
Is XRP waiting for a fall or waiting to rocket up?
The simple formation of the triangle (with both edges having similar slopes) is also creating a confusion nad the this state is narrowing, as seen on a day's chart.
Ichimoku says: Price is above all lines and above the cloud (bullish nature), lagging span is just above price, just holded by Tenken Sen - around 1.5 (trying to break to move into bullish territory). However, there is a twist nearby, which can easily give the market the bearish sentiment.
The breakout can be either side, but only if supported by heavy volume, which is decreasing as of now. A tight spread between 1.6 and 1.3 is what XRP is facing for now. But beyond this level, with confirmed outbreak (atleast a sharp breakout with high volume and closing above or below this level, rally is expected.
Bullish is what it seems, or atleast what it is hoped!
Happy trading!
