Luettis

Ripple near decision point

BITFINEX:XRPUSD   XRP / U.S. Dollar
Within a well defined trend channel the Ripple has fallen from about 1.40$ to 0.42$ today.
It has just touched the lower limit of this channel and we´ll see if it´ll break to the bottom or if it´ll rebound and climb.
MACD isn´t showing much life, nearly neutral. And RSI has also reached the 20 level; beyond 20 would be the oversold-zone.

There are two possibilities now in my eyes:
a) Ripple rebounds and rises up to the upper level of the trend channel at about 0,65$
-> Good opportunity for making some profit if Ripple rebounds (up to 50%).
b) Ripple breaks out to the bottom; then we could see a massive sell-off and the next support is far away!


This is no trading advice!

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