Art_of_Trading
Short

RIPPLE Market Analysis - Key Resistance

BITFINEX:XRPUSD   Ripple / U.S. Dollar
The Ripple moves sideways last few days. This means, none of the party (sellers and buyers) took initiative to control the price. The price touched the previous structure high at 0.83, which acts as a major resistance level . Every time Ripple got closer to that level, it was rejected by sellers. In others words, there were sell orders at that area that pushed the price down. It is expected that the more sellers will step in and buyers will liquidate their positions after unsuccessful breakout attempts. Those scenarios will give additional selling momentum and there will be opportunity to go short.

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