Here we are analyzing Ripple on the 8 hour chart.
Ripple is trading at 0.5460 which is within the historical . Based on this being the lower predicted support I am hoping for an up move soon. As it stands, Ripple, and most Cryptocurrencies are struggling. The candle behavior over the last 48 hours is showing signs of stress and , and I think Ripple is under stress along with the rest of the Cryptocurrency market.
I am expecting Ripple to have a move very soon, hopefully to the upside. I believe it will pick up some momentum soon and make a move to around 1.0610 eventually, but that does not necessarily mean it's going to happen now.
Bare in mind if current support fails, there will be a down move before any new up move begins. Also bare in mind that my lower boundary is an EXTREME SCENARIO. And not likely to get this low, but this is an INDICATION.
After the correction has finished. I will update my views on Ripple. At the moment, it's argumentatively neutral.
I will update this analysis when I receive above 40 likes.
Always remember, a trader who posts an analysis which is biased and goes wrong, is NOT trading properly. A biased sentiment is good, IF you have considered the other side of the trade, which a lot of the authors do not consider when making their analysis at all. Any professional trader should not be posting an analysis that goes the complete wrong way without them also mentioning a contingency. If they do this, they are NOT professional traders! If you charted like some do here in a bank, you would be sacked after 1 trade.
Remember guys, trading is not magic nor alchemy. Trading is simply the act of trading what you see, and not what you think. Anyone saying otherwise is already thinking emotionally, and emotions in trading are NOT welcome for legitimate financial success!
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