XRP EXITS DESCENDING BROADENING WEDGESXRP / U.S. dollarBITSTAMP:XRPUSDRocksorgate💥 Hey, gonna keep this idea pretty short today since this is mainly a follow up off of yesterday's idea as shown below for reference: 💥 In yesterday's Idea we spoke on how XRP was in a descending broadening wedge and our price target of $1.99, we're waiting on that for confirmation of a bullish reversal though we can see off today's chart that bulls were able to reclaim some ground using the wedge as some technical support to bounce. We can see our 20, 50 EMA's have already converged so it'll be a matter now if whether or not we can avoid falling back within the wedge and reenter our descending channel. 💥 If we manage to break back into our descending channel then I would keep mind of that $1.99 level as it'll play a crucial resistance point until we're above it and even so the next thing will be if we can sustain and regain our 200 EMA to form a bullish crossover else we'll keep facing some volatile activity till the retail market and technical traders get some more bullish confirmation. 💥 Alongside this a big part is sentiment, things are still uneasy as ever. We've still got strong inflows into Bitcoin and positive fundamentals but with macroeconomic concerns and persistent selling pressure, liquidations and Bitcoin trading in this volatile range facing $70k again if it can't break resistance levels, $90k in particular. I would keep these things in mind, we know January has a chance of being a positive month if past-price action proves correct else we may continue to see choppy waters for a few weeks till we get some positive news or some catalyst and better sentiment. 💥 Thanks for tuning in, really appreciate everyone and the words as always, thanks and hope the holidays treat you all well. All the best and happy holidays till next. Best regards, ~ Rock '