I have been monitoring the cryptocurrency markets lately and Ripple has now officially caught my attention, and I'm sure the attention of others, this is why I wanted to make a post on it. Based on this last weeks I had seen a very strong momentum push by the buyers showing me the very strong interest in a potential purchase in this currency pair. Lets take a look at my analysis on it !
*if you look on the weekly chart you can see the biggest push of momentum in MONTHS
*buyers had showed very strong interest from the .20-.25 cent and had sent price up into the .80 cent levels
*weekly candle has left a very large and strong candle
*on this chart price had broken structure around the .47 cent price area
*look for a weak seller pullback if we see one back into the .47 cent price levels
*watch for strong buyer momentum in this price are
Always make sure to approach the markets with a consistent and disciplined approach. It's about letting the market tell YOU what it wants not YOU telling the market. Make sure to always implement good risk management into every trade and approach it as a strategic business decision.
Keep an eye out ! Cheers!
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