CaptainQuickWit
Short

XRP high volaitlity

BITFINEX:XRPUSD   XRP / U.S. Dollar
294 views
10
294 0
Looks like it is about to break down. It left the upward sloping price channel and and is going through a phase of price congestion, with high volume that is now declining. A clear sign of a break out, which direction is hard to say for sure. The wicks look bullish and the massive selling couldn't push through a fib support, which could be interpreted as bullish but at the same time if it was then it would be reasonable to assume we would see a continuation of the uptrend after it touched the resistance. I speculate that the price has a better chance of breaking down than up, but the price is so erratic and volatile there is a chance it could break up as well although it is questionable how far it would continue even if it did happen. Conservative traders best stay out of XRP, it's too erratic and the risk/reward does not seem favorable for a long trade.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out