Descending triangle - target 39.2c within 12 hours
This looks remarkably like a bearish triangle. Lower support is around 41.7 and the high is around 44.7. If it breaks, we'd be looking at a target of 44.4-41.8: 2.6c below 41.8 - 39.2c, and appears to be going to happen within the next 12 hours.
Note I'm bullish on XRP long term, I love that they're working WITH the establishment, not trying to circumvent it like some other high-market-cap coins ;) But trading is trading, and right now there appears to still be some downward pressure.
Remember to take into account what BTC is doing. As much as everyone wants to think that we're decoupling from BTC, we're just not, at least not yet, so where BTC goes, XRP follows.
Note I'm bullish on XRP long term, I love that they're working WITH the establishment, not trying to circumvent it like some other high-market-cap coins ;) But trading is trading, and right now there appears to still be some downward pressure.
Remember to take into account what BTC is doing. As much as everyone wants to think that we're decoupling from BTC, we're just not, at least not yet, so where BTC goes, XRP follows.
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