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QubitLife
Dec 8, 2020 10:38 AM

XRPUSD: Possible Long| Alt Short (08.12.2020) 

XRP / TetherUS PERPETUAL CONTRACTBinance

Description

On H4, XRP price fluctuates into the corrective model of the triangle. Besides, there is a convergence bull model between RSI and price.
On H1, the price is correcting downward, reaching the key support levels by Fibonacci. Also, the RSI has reached the oversold level, signalling the possible end of the correction.

We recommend buying XRP (to keep the position above $ 0.8). However, we also recommend paying attention to an alternative scenario, which implies the formation of a false trend pattern and the start of a price decline to $ 0.4.
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