JD Flags Bearish Engulfing Pattern on the XRP (XRP) Monthly Chart

Crypto analyst JD (@jaydee_757) flagged a bearish engulfing pattern on XRP (XRP)’s monthly chart after the price reversed near its 21-month exponential moving average (EMA). He said his broader outlook on the asset remains bullish. In an Oct. 24 post on X, JD described the pattern as a red candle body covering the previous month’s green candle body. His chart also marks an ascending trendline near XRP and traces it as support back to 2020. The pattern’s definition drew disagreement with user @AddisonJK, who argued that the candle should trade above the previous candle’s wick high and close below its wick low. JD said his definition focuses on the candle bodies and does not require the full wick range to be covered.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.