XRP price will fall to new lows vs. Bitcoin if this famous chart pattern plays - Trending Cryptocurrency News | Crypto News Today
Click to earn huge commissions from Binance

XRP price will fall to new lows vs. Bitcoin if this famous chart pattern plays



XRP price will fall to new lows vs. Bitcoin if this famous chart pattern plays out

blockchain’s native token, XRP, could make a full bearish price swing against (BTC), per a classic technical indicator.

Dubbed as Head and Shoulders (H&S), the pattern develops when an asset forms three peaks atop a common baseline. The outside peaks, known as Shoulders, are close in height, while the middle one, called the Head, is the highest.

XRP has broken below the H&S neckline with strong volumes. Source: TradingView, Peter Brandt
XRP tests 200-day simple moving average as its first line of support. Source: TradingView
XRP bounced off its lower descending channel support on June 22. Source: TradingView