Technical analysis by LOWCO_487 about Symbol XRP: Buy recommendation (10/6/2024)

XRP retraced, settling itself at a lower low and a new resistance. A head and shoulders formed, signaling a rally short trade. I believe XRP will bounce and retrace, possibly dropping below $0.50. The previous head and shoulders from Nov 23 to Jan 24 caused XRP to dip below $0.50, and then it rallied after the dip. The previous head and shoulders formed in a 3-month window, identical to its recent head and shoulders that started at the beginning of July 2024.Support - 0.50Resistance - 0.57Momentum - SellingFear & Greed Index (Binance) - Neutral 50Bear vs Bull - BearishFundamental analysis: A major factor in the dip was a whale selloff at approximately 32% volume. Market sentiment appears mixed, with some analysts indicating that the current price movements reflect manipulation and uncertainty in the market.