micahjmiller
Short

XRP: Look Out Below

BITFINEX:XRPUSD   XRP / U.S. Dollar
XRP saw a big jump in price going from $0.27 to $0.79. This move came on the back of some big news for the company Ripple, but we have seen price lose momentum.

We are seeing a consolidation of price in the form of a triangle pattern . Bulls are buying at higher prices and bears are selling at lower prices. Situations like this normally result in a big move. I think this move is likely to head to the downside since Bitcoin made a bearish move the other day.

Now is a good time to remain patient and see what happens!

Disclaimer:
None of the content in this article is to be taken as investment advice. This is educational content only with expressed opinion.

Investing in cryptocurrencies is very risky as markets are volatile. Investment can result in loss of principle. Only invest what you can afford to lose.

I do not own any positions in XRP.

Trade closed: target reached: XRP consolidated near the price I had predicted.
I will be looking out below, riding XRP to the nearest galaxy... peering down on the little BTC hodlers.
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@merola, Mind you, I'm a fan of the project long term. Just saying this isn't a good point for a long term buy.
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