- XRP seems to have formed a local bottom near $0.33 but volume has been missing since the initial drop
- Buyers did not step in as much as I'm sure most would have liked but we have been able to maintain the current support OB
- EMAs remain down-trending and price is currently finding resistance at the 13EMA
- A strong move above could see a retest of the supply zone above and eventually a retest of local highs
- If we fail here, the odds of a swing lower to take the liquidity below the white line is very likely and possibly new lows before moving up
- Again, most of the movement will be hinged to what BTC does so keeping a close eye on that if you're looking to enter a trade on XRP is warranted
Thanks guys!
Comment:
As we can see, we have so far had perfect follow-through on the potential downward candles yesterday. We have broken below the support OB so lower is likely right now