Technical analysis Ripple. XRP-BTC August 22, 2018

#XRP

On the higher timeframes for the long-term perspective Ripple as good levels for the reversal movement formation. The correction pullback on the global perspective exceeded the price fall more than 80% and overcame Fib 0.786 level. On 12h timeframe, we can distinguish the long-term downtrend resistance line that the asset is trying to break. On the smaller timeframes, we can see the formation of the symmetrical triangle in the uptrend that can push the price higher (short-term period, small timeframes!), but we can face the false breakdowns and further movement down as it would be difficult to overcome the long-term downtrend resistance on high timeframes. The possible market movement scenarios are marked on the 1h chart.