What does the Charts show?
- If the $589-er's are correct 30th November is the day; fundamentally that the banks are meant to switch on XRP connectivity.
- Every time XRP touches the trend line as shown below; it falls - today being of no exception. Nouvive see 0.38 as HIGHLY UNLIKELY.
A breakdown and close below $0.372 would indicate that the next level XRP can bounce off is $0.363.
Decreasing accumulation; Nouvive Intelligence explains this as there are far greater trades out there than XRP at the moment.
RSI Stochastic on all time frames are OVERBROUGHT.
Lower time frames on RSI Stochastic illustrate that there is still some momentum to go before we see a bounce and a reversal.
Nouvive Says: Short XRP to 0.363, wait for a deadcat bounce before shorting to $0.345.