Current price retracement on xrpusd is creating right shoulder

We can see the current price retracement on xrpusd is starting to form the right shoulder of an inverse head and shoulders pattern.This means that once price bounces and gets firmly above 95 cents or so then maintains that level as support it could trigger a breakout from this inverse head and shoulders pattern. At that point the target would be around $1.55-$1.60 and if we can get tot hat level and maintain that level as strong support thats when the real fireworks can start to begin. Could take multiple weeks for this right shoulder to find its bottom and head back towards the neckline, but hopefully sooner rather than later. *not financial advice*

Kommentera:

Xrp appears to be rounding out its right shoulder now.