Ripple (XRP) Hype finished, up 13% on last short idea. Bearish
My last trade on XRP is currently up 13%, and my previous trade on ETH has closed at a loss. If you wish to see them, please check the related ideas section.
XRP has dropped nicely since its highs along with Bitcoin, and is currently testing support.
Because so much volume has been transacted here, it is certain we will hold here and may even bounce, therefore it is a good place to close your shorts and short at a higher price or switch long with a tight stop for a good R/R trade.
I am not long, but you may do so as the risk/reward ratio is quite high, and if we break down just flip short.
XRP has dropped nicely since its highs along with Bitcoin, and is currently testing support.
Because so much volume has been transacted here, it is certain we will hold here and may even bounce, therefore it is a good place to close your shorts and short at a higher price or switch long with a tight stop for a good R/R trade.
I am not long, but you may do so as the risk/reward ratio is quite high, and if we break down just flip short.
Trade closed: target reached
