Let us just jump in. We are here taking a look at the 4h XRPUSD Chart! In an earlier post I warned you about divergence 2 times. Everything looked oh so fine, but we just kept falling, as I predicted. Hereafter we were making out with the 78,6 % retracement level for a long time. After some time, Ripple did what it tends to do, making these crazy spikes from time to time.
I warned you about buying Ripple, because it's like reading the same story over and over again. We don't see any confirmation from Ripple that we will have a reversal. Even though Ripple had a chance to break out from it Inverse , it just crashed instead.
And what is the result now? We are back again with our dirty, old ex girlfriend Mss 78,6, where we are getting support at this very moment. As you can see a descending has formed, and Ripple has a chance to use that momentum to break out. Look at the bars, they red ones are getting smaller. Bears are losing momentum, and the shows the same.
BUT... I'm here to warn you! If we try to break out now, we will not go far. We are way too close from the other escape, and we will probably run our heads into a a wall or two with MA20 and EMA50 just above our heads. The also confirms that.
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As you can see, the rumors and hack of Binance yesterday has also affected Ripple! It also made a crazy drop in price within no time, and have made almost the same pattern as BTC.
A bear flag has been created, which means we can go lower.
I would still advice to stay out of the game at the moment and be patient. It's really hard to predict what's going to happen when crazy FA stuff like that happens. We need to calm things down first.
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