Hi friends! Welcome to this update analysis on Ripple! Let's jump right in. Looking at the four hour XRP chart, we can see that it has fallen significantly from the bear flag
that we were discussing in my last post. If you recall, I said " Looking at XRP, this is what I think. If the bounce was all that it's cracked up to be, we wouldn't be getting stopped cold at the bottom of the blue trendline
. Do you see what I'm saying? We sure sailed right through it on the way down. Now, after the bounce that so many are proclaiming has solidified "the end of the bear market," it can't even get back above the blue trendline?! Please. I know failure when I see it, and so far, this looks like a failed bounce." Looking at the chart, you can see that XRP began to drop like a rock, right after I published that analysis. It's in an area of very little support, and it's likely only a matter of time before XRP reaches my symmetrical triangle target. With that said, I do believe that XRP could easily continue to plummet through the target area. We will have to see how XRP reacts if/when it gets there. If you look to the left side of the chart, you can see that we're testing some support that was found near the blue 1, on Dec 15th. Needless to say, I doubt that little guy will provide the bear market ending support, that everyone so desperately wants.
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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The original XRP warning...