XRPUSD: Descending Channel

XRPUSD: Descending Channel

In the Daily timeframe, XRPUSD formed a descending channel pattern. The price has reached the upper boundary, and the MA50 is being tested. Despite the bearish sentiment, DeMarker came out of the oversold zone, indicating the possibility of growth.

• If Ripple breaks the upper trendline above 2.2000 and MA50, it will rise to 2.5000 and further to 2.7000;

• A bounce from the trendline will drop the price to 1.8300;