jonnyfram
Short

XRP Descending to the deeps

BITFINEX:XRPUSD   XRP / U.S. Dollar
Note the yawning maw not only of the realistic shark- but of the huge volume well between here and around 23c. If we break and do not bounce from the 34-36c level then my next target is 24 cents.

I am actually expecting a short term bounce before the shark eats ripple's lunch...
Comment: chum is being thrown into the water
Comment: There is not much support here, we could easily slide right through towards the high 20s.
Comment: seems to be holding up pretty well considering the volume well. buyers stepped in at the previously mentioned 34c level. While we could bounce, the trend is still down, blood is in the water.
Comment: next stop 26 to 24c and probably 19c.
Comment: I would not short here. I'm a buyer from here downwards.
Trade closed: target reached: Will not be seriously accumulating until much lower.

Targets hit. Waiting for more downside.

Cheers!
Nice chart mate.

Think it's building a long term falling channel which should break to the upside EOY.

Reply
jonnyfram AlfredoCollado
@AlfredoCollado, cheers. that certainly seems plausible. thanks for the chart.
+1 Reply
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