SethNegley
Long

Ripple going to $2!

BITFINEX:XRPUSD   XRP / U.S. Dollar
Ripple is setting up nicely, respecting this support zone . Looking for 100% gains.

We could see a dip back down to 65 cents so be careful.

Remember to NEVER sell low and buy high.

Entry #1: $0.90
Feb 26
Trade active: Entry #1 hit

Comments

That support zone isn't exactly convincing.
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@germac, Why, please explain?
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germac SethNegley
@SethNegley, the proposed support zone hasn't been tested. The first time that price ($0.75) was touched was in early December, it was only a brief pause in a spectacular rise. There's been a clear downwards trend over the last month and a minor reversal is common. The typical scenarios now are 1) a continuation of the downwards trend on below average volume or 2) a period of sideways movement establishing a channel from which a breakout will eventually form. It looks like the rush to buy is over, and maybe the pertinent question is whether discouraged investors are ready take their losses yet.
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