robin.bak

XRPUSD Ripple- Buy opportunity at a break below 1.10 levels

BITSTAMP:XRPUSD   Ripple / U.S. Dollar
The last couple of days Ripple has been recovering after the recent cryptocrash, Ripple desynchronised a little from bitcoin             , as the previous ratio was around 1:1000. After breaking through the yellow channel/trendline, price surged up to 1.70 and ended it's correction there. I expected Ripple to find resistance around 1.80 levels, but it lacked buying volume and therefore wasn't able to gain enough momentum and break through. Therefore, we are currently producing a flat which has Bearish outlooks. Expect Ripple to reach a break around 1.20 levels, either to lower or upper side! With a buy opportunity around 1.10, if it fails to drop even further through 1.00 support!
We have more options expiring next week though
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It's just flagging, waiting for a stimulus. Maybe a slow crawl downwards but this is a buy imo, stimulus should be on the way next week in a recovering market, I expect 2.8 at least, we'll see.
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