Hello dear crypto friends!
XRP has just broken the 30 cents psychological to the downside.
We are hugely oversold already on all timeframes up to the 4H.
For the case we break down further, we have 2 major areas, where we can expect a bounce from the bulls at the latest (marked with the orange boxes):
Previous Weekly Support at 28,5-29
Summer Lows at 25 psychological.
If you are short in this play, we have clear 4H Lower Highs at 31,7 cents: You should be very comfortable in your position.
Always check correlation to grandpa BTC & the major Alts.
Also check out the 'Ripple Macro Analysis' for the further play linked underneath, if you haven't seen it yet.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
XRP has just broken the 30 cents psychological to the downside.
We are hugely oversold already on all timeframes up to the 4H.
For the case we break down further, we have 2 major areas, where we can expect a bounce from the bulls at the latest (marked with the orange boxes):
Previous Weekly Support at 28,5-29
Summer Lows at 25 psychological.
If you are short in this play, we have clear 4H Lower Highs at 31,7 cents: You should be very comfortable in your position.
Always check correlation to grandpa BTC & the major Alts.
Also check out the 'Ripple Macro Analysis' for the further play linked underneath, if you haven't seen it yet.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
