XRP’s rising tide likely to face hurdle with formation of descending triangle

August 25, 2019 | By | Reply | 25 Readers More


The year 2019 has been rough for XRP solely because of its price. As the new year set in, XRP’s price consolidated mainly between the price range $0.2604 and $0.3834. After numerous tries, the third-largest coin broke out from the consolidating price range but eventually had to return after 56 days. Since then, the price of the coin has been pulled towards the bottom, with support at $0.2382.

The coin’s ATH peaked at $3.5416 during the end of the bull run in January 2018, after which it nosedived by 82.20% to be valued at $0.6308. The coin has not yet tested this range and has been forming new supports at a lower price range. Even the short-term charts do not bear any good news as bears’ looming presence can be sensed through many short-term charts.

4-hour 

Source: Trading view

Source: Trading view

The four-hour chart of XRP indicated formation of a descending triangle. Being a bearish…

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