Ripple (XRPBTC) continues its retrace after a very strong and wild bull ride. Its price increased from a low 0.00004010, all the way up to 0.0001175 (180%+).
Now, the question for us is the following: How far down can Ripple (XRPBTC) go?
It all depends on the market, so we look at the different possibilities, here are my XRPBTC support levels:
(1) XRP will find support first around 0.0000652 and 0.0000673, which is between EMA50 and EMA200. (2) If this level holds, XRPBTC can either bounce from here and continue moving up or consolidate sideways before the next move. (3) If the above level doesn't hold, then we look for our next support. That is 0.0000608. (4) Finally, I think the lowest we can go before the next move up is 0.0000542. We should find support here and resume our up wave.
These are my support levels for Ripple.
Thanks a lot for reading...
Namaste. P.S. If you found this analysis useful, feel free to like, follow, share and comment for more...
Weekly chart:
Comment
⋅
The price level we are looking at is trying to hold, but we are seeing bearish divergence on several indicators:
We are likely to continue down after a short "relief" up.
Comment
⋅
Shared some updates for Tron (TRXBTC) and Verge (XVG) btc as well. Links below:
TRON:
VERGE:
Thanks for the support.
Comment
⋅
We continue going bearish as expected.
We will open a new trade when we find support and we have a clear entry signal.
Trade closed: target reached
⋅
I ended up posted my XRPBTC trade on private. Trade idea closed.