BITFINEX:XRPUSD   XRP / U.S. Dollar

* We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases.

As we predicted from our last analysis that if Ripple can't succeed to go above $0.86 it may fall to $0.57 level. Ripple fell to $0.62 today. We still see chances to hit $0.57 level is possible. This is supposed to be a strong support, however, if it is broken down Ripple may go to $0.42.

On the other side, Traders will face strong resistance from $0.85 and the moving averages. We anticipate a selling pressure from these zones.

Therefore, we suggest open long at $0.57 level with the target $0.85.

Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.
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