Hello Traders,
Here is my last analysis on Ripple. We are currently trading on a key level which is the 2018 lowest low. Pretty convenient for us, there is a descending triangle formation as you noticed on the chart. If that breaks down we could easily see XRP trading around $0.45 in a few days/weeks. Now, I am taking the short side on this analysis, however, if for any reason price breaks up and hold the 2018 Low, we could expect a retest to the $0.60 area and even $0.70 level.
Strong confirmation is key here, but is done right, it could be a really profitable trade to either of those 2 options.
Cheers!
-Shogun414
Here is my last analysis on Ripple. We are currently trading on a key level which is the 2018 lowest low. Pretty convenient for us, there is a descending triangle formation as you noticed on the chart. If that breaks down we could easily see XRP trading around $0.45 in a few days/weeks. Now, I am taking the short side on this analysis, however, if for any reason price breaks up and hold the 2018 Low, we could expect a retest to the $0.60 area and even $0.70 level.
Strong confirmation is key here, but is done right, it could be a really profitable trade to either of those 2 options.
Cheers!
-Shogun414
Trade closed: target reached