Ripple (XRP) - Wind is blowing, grab anything you can.
In my previous idea I laid out arguments for a dip in detail and it played out nicely. As identified in the analysis. But still, some wouldn't listen. Hopefully, price action will give some nice patterns in future. Price action was horrible during last two weeks.
The path of least resistance is down.
It is a one-way street, however, stops are scheduled. First around @0.90
With help of some basic pattern charting, we get a theoretical target of $0.75. This will not happen exactly. But we do need a focal point at this moment.
RSI is oversold. Nevertheless, historic past price in similar circumstances implies price should be able to reach @0.75. Only above 1.05 would the selling pressure alleviate.
There is no evidence yet of stronger bear pressure building, so no evidence to assume we could reach, or even break, bellow @0.57.
The path of least resistance is down.
It is a one-way street, however, stops are scheduled. First around @0.90
With help of some basic pattern charting, we get a theoretical target of $0.75. This will not happen exactly. But we do need a focal point at this moment.
RSI is oversold. Nevertheless, historic past price in similar circumstances implies price should be able to reach @0.75. Only above 1.05 would the selling pressure alleviate.
There is no evidence yet of stronger bear pressure building, so no evidence to assume we could reach, or even break, bellow @0.57.
Trade closed manually:
6 days since this Analysis.
Needs and update. However focus on BTC as it is leading XRP currently. No need to focus on anything else.
Needs and update. However focus on BTC as it is leading XRP currently. No need to focus on anything else.
