When looking at the chart we can see that ripple is currently trading in a which you can see marked in blue in my chart, this is normally a formation that breaks to the downside when confirmed rightly. What supports this possibility at the moment is the huge downward-channel we are trading in and the resistance we have above at the 0.21 USD level, this level and the 600-EMA you can see marked in blue building a coherent confluence-zone here between 0.207 and 0.214 which you see marked with the red boxes in my chart when we visit this area it is within the high likelihood schedule that we confirm it as resistance.
The next time we can expect a visit of this area to test it, it will be important to see how we react here when there comes a volatile red candle to the downside crossing the lower boundary of the down the is finally confirmed and it can be traded on the short-side. Overall the can be traded aggressively or conservative, the aggressive approach will be opening a short position in the bearish-confluence-zone and the conservative approach will be when the has confirmed to the downside. In both scenarios, the target will be the same which is the 0.185 level you can see marked in orange in the chart, there is a high possibility given that we reach this target when the confirmed properly.
After the confirmed and the target reached we have to look and contemplate the situation again, it is possible that we get a bounce to the upside here confirming the overall level as support, in this case it is important to hold the overall support to form a possible reversal otherwise when the price is too weak and the support cant behold it is within the possible spectrum that we continue with the downtrend, this will be definitely confirmed when we cross below the 0.175 level which is also matching with the overall picture we have on the bigger timeframe. Remember that the overall move needs to be confirmed rightly and do not rush in a trade, when this happens it is also the best possible entry-place for a trade to take advantage of the down move.
Alright, this should give you a good overview, thanks to everybody for watching, support for more market insight, and all the best!
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Information provided is only educational and should not be used to take action in the markets.