Ripple Price – XRPUSD Surges Past Neckline Resistance of Inverse H&S
On the other hand, if sellers take charge, we could see XRPUSD pull back some of its gains. By connecting the lows of February 2 and February 4, we can see that there is trend line support around $0.2550. This price also aligns with the 61.8% Fib level when you draw the Fibonacci retracement tool from the low of February 4 to today’s high. Reversal candles around this level could suggest that the rally to $0.3100 on ripple price is still intact. Watch out for dojis and hammers around this level.
On the other hand, be wary of a strong bearish candle closing below the rising trend line. It could suggest that the short-term uptrend on XRPUSD has been invalidated. Ripple price may then fall to $0.2350 where it previously found support.