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10.11 - 20:45
How XRP can progress within its rising wedge
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An air of uncertainty seems to be surrounding XRP at the moment. The alt has maintained within a rising wedge for 6 weeks now as neither side found the strength for a breakout. With momentum slowing down on the MACD and Awesome Oscillator, XRP could continue to consolidate within the pattern before approaching a more critical price level. At the time of writing, XRP traded at $1.10, up by 2.1% over the last 24 hours.
Source: XRP/USD, TradingView
XRP seems to have averted a breakdown after rebounding from the 38.2% Fibonacci level and setting up a potential second green candlestick. However, this was the only positive development for XRP in the past couple of days. An ADX reading of just 10 highlighted the lack of strength and volatility in
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