Ripple is just getting hammered with everything else. We had MACD cross over and its gradually moving down. This shouldn't be a surprise to anyone following my posts, we had some great moves to the upside, made some money, took half our profits at 90 cents and were stopped out with more profit as it moved back down.
I will NOT be trying to flip ripple as it moves down to 50 cents. Why? Not that I won't be trading, but I can accomplish the same goal with BTC or ETH. XRP is still tied too closely to those to be independent, better just to trade where there is more action imo.
If you are going to flip it look for this 50 cent area to hold, which should coincide with BTC 7k or thereabouts which is really what you want to look for. You can see that RSI is already almost in oversold territory and will look even more oversold for a bounce if XRP goes down there.
Best of luck and happy trading,
-Sherem
some past Ripple analysis for reference:
I will NOT be trying to flip ripple as it moves down to 50 cents. Why? Not that I won't be trading, but I can accomplish the same goal with BTC or ETH. XRP is still tied too closely to those to be independent, better just to trade where there is more action imo.
If you are going to flip it look for this 50 cent area to hold, which should coincide with BTC 7k or thereabouts which is really what you want to look for. You can see that RSI is already almost in oversold territory and will look even more oversold for a bounce if XRP goes down there.
Best of luck and happy trading,
-Sherem
some past Ripple analysis for reference:
