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XRP USD (Ripple) chart analysis for today is carried out on a 1 hour timeframe. The current bottom in price action around $0.25 does coincide with the region of support for XRP previously on August 13, 2018. Both scenarios do indicate the potential of Ripple finding support and using it as a base to resume a rally back to ~$0.37. Besides, price closing above ~$0.37 would set up a double bottom chart pattern which is ideally bullish. The point of invalidation (POI) for the formation of the pattern is a price close below $0.24755. Overall, this analysis supports the notion of a bearish trend to side trend at best for Ripple.



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XRPUSD has kept the 0.2500 1D support intact (STOCH = 54.926, STOCHRSI = 76.422, Highs/Lows = 0.000) and continued with sideways consolidation that is about to break the 1W Channel Down (MACD = -0.107, Highs/Lows = -0.0828, B/BP = -0.2150) to the upside. This may create a Triangle on 1D that has the potential to keep the price ranged for the next month. However the Lower High Resisting line (bold black) will continue exerting selling pressure and shorting should be the optimal long term trading choice. We remain short on Ripple: TP = 0.24321 (December 12, 2017 low) and TP = 0.19914 (December 08, 2017 low).

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Step 1 - Find a descending, ascending or horizontal price channel pattern The horizontal Price Channel pattern can be defined by two horizontal lines as opposed to using trendlines . Basically, when we have a consolidation or ranging zone where the price simply bounces on and off between the two lines – support and resistance . Using a Channel trading strategy you can easily identify trade ideas for big profits. Step #2: Wait for a Swing High to fail to reach the top of the Price Channel pattern In the case of an ascending or upward Price Channel pattern the first warning signal that the price will fail to trade within the boundaries set by the Price Channel Pattern presents itself when the last swing high point fails to reach the top of the channel. Only our Price Channel trading strategy makes use of this powerful price reading technique because our team at Trading Strategy Guide has developed the “early signs” of Price Channel breakout. The fail attempt to test again the top of the Price Channel is a sign of price weakness which is confirmed when the price also fails to bounce off the Price Channel bottom and breaks it instead. Note* The more times a swing High fails to reach the top of the Price Channel pattern the better the trade setup Step #3: Wait for the Price Channel breakout and for breakout confirmation One of the worst mistakes traders does when trading Price Channel patterns is that they don’t wait for confirmation signal when the Price Channel breakout happens. You should always wait for breakout confirmation! What do we mean by breakout confirmation? In simple terms, we want the breakout candle to post a close below the Price Channel bottom to confirm the breakout. So we don’t just wait for the Price Channel breakout, but instead, we also want to see the breakout candle closing below the Price Channel pattern. This is a very simple way to avoid many of the false breakout signals. Note* The breakout candle needs to be a big decisive looking candle, but it’s not mandatory Step #4: Sell right at the Breakout Candle Closing Price The Price Channel trading strategy uses a very simple trade entry technique. A sell order is triggered at the breakout candle closing price. The Price Channel breakout technique provides us with an entry signal that you can be confident executing the trade. Step #5: Take Profit 1 at the 50%/78.6% Fibonacci Retracement of the previous trend, Take Profit 2 at the starting point OF Fib Retracement (100% fIB) The Price Channel trading strategy employs multiple entry techniques. Our first potential take profit zone is the 50%/78.6% Fibonacci retracement of the previous trend. What do we mean by the previous trend? The trend that was contained within the Price Channel pattern. So plot the Fibonacci retracement indicator between the high and the low of the price channel or trend.xrpusd 1h hori

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Ripple (XRP) has slowed down after an aggressive climb last week. The price has now formed a triple top as seen on the XRP/USD 4H chart above. This is a very strong resistance which is unlikely to be breached at this point. Ripple (XRP) does not have the bullish momentum to break this resistance from its current levels. The price will have to retrace back to the support at $0.2738 before it can retest the resistance. However, the price action and most technical indicators suggest that Ripple (XRP) is unlikely to stop there and that the price may retest all the way down to retest previous lows. Currently, Ripple (XRP) has three important support levels. The first one is a weak support at $0.2738. The next one is relatively strong at $0.2706 but it can also be breached easily at this point considering the low trading volume. The last support at $0.2530 is a critical one and is unlikely to be breached. If this support is broken, Ripple (XRP) will be in a free fall and the price could fall all the way down to $0.18. Considering the low trading volume, it may not be advisable to enter a short position for Ripple (XRP) at this point, but the setup is highly in favor of the bears and the bulls are not expected to put up a fight as that would be no different than catching a falling knife. Read Further: https://cryptodaily.co.uk/2018/09/ripple-xrp-forms-a-triple-top-price-likely-to-retest-previous-lows/

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