Ascending Channel
Ripple is within an ascending channel with a minor downtrend line observed. The robust support at the channel's bottom indicates potential for a substantial increase if the downtrend line is breached.
1/21/20241 min read
![Ripple analysis - Ascending channel, minor downtrend line, and potential for substantial increase up](https://assets.zyrosite.com/cdn-cgi/image/format=auto,w=1018,h=586,fit=crop/mP4DRvxXEycnaE1Q/1-AGBvpkb4b8T8al7Z.png)
![Ripple analysis - Ascending channel, minor downtrend line, and potential for substantial increase up](https://assets.zyrosite.com/cdn-cgi/image/format=auto,w=328,h=189,fit=crop/mP4DRvxXEycnaE1Q/1-AGBvpkb4b8T8al7Z.png)
Ripple is positioned within an ascending channel.
As observed, a minor downtrend line has been established within this channel.
Considering the robust support at the bottom of the channel, should the downtrend line be breached, Ripple is likely to undergo a substantial increase.