I wanted to share this trading opportunity with you asap, As this is the best point to enter the trade,
"This is a stupid simple analysis of XRP"
So what will happen to XRP now?
If you observer XRP carefully, you will notice that we've been stuck in this range, where market rejected price of XRP to go above & below those two lines in a symmetric triangle (In the chart above).
...but what does that actually mean? this means there has been competition between bulls & bears, that trapped the price in this range.
You might be thinking, so the question is who will actually win?
for now, if you observe the market carefully, you'll see bears were able to break the support line.
So What next? I'm expecting we see a breakout below the support line, and we trace back up towards the same support line (as shown in the chart), after which we get an amazing opportunity to place a short position.
Where we can target for at least 5-10% (keep trailing till we see 2-3 green candles). here the risk is extremely low as the market would be in our favor :) .
So what are your thoughts on Ripple? Are you "Long" or "Short" Comment below & Let's keep crushing markets!