Technical analysis
The four-hour time frame shows that the XRPUSD pair has formed a large inverted head and shoulders pattern, and may need to correct lower to form the final right-hand shoulder.
The Relative Strength Index indicator on the four-hour time frame has dipped below 50 and continues to generate a strong sell signal.
What the possible outcomes are
In our most likely scenario, the XRPUSD pair starts to correct back towards the 0.6700 level and then rally towards the 0.9000 level once the bullish price pattern is completed.
Alternatively, the XRPUSD pair may consolidate around current trading levels and then start to rally towards the 0.9000 level.
Key levels
Support 0.7000 0.6700
Resistance 0.7700 0.9000
