Nice idea on XRPUSD and there may be potential gains as you have identified by going short. For our set up, we have identified the key resistance and support levels. Currently, price is approaching our first resistance at 0.4555. It is a horizontal overlap resistance, 61.8% Fibonacci extension and 38.2% Fibonacci retracement. RSI is approaching resistance and we might see a corresponding drop in price. If a corresponding drop does occur, we may want to take a look at the 0.4290 support level. It is a horizontal pullback support, 76.4% Fibonacci retracement and a 61.8% Fibonacci extension.
Please take a look at our idea and share with us what you think.