XRP/USD
XRP has created a new resistance at $0.23, as you can see on the chart. There was a breakthrough upward, followed by one bounce off this new resistance, then a failed attempt followed on the third attempt. After breaking BELOW the resistance, XRP tried again to break thru and rejected. This is a clear sign, there will be a followed spike down. Volume is also supporting the downtrend as it continues to decrease after each pump. Look for XRP to fall first to recent low T1 at $.2225. If 100 MA breaks, look for T2 at $.22 and T3 at $.216. T3 is a front run of the local support and I do expect a reversal within this green support zone. Look for volume jump and a reversal wick up to flip from short to long.
Possible Short Entries: $.227
XRP has created a new resistance at $0.23, as you can see on the chart. There was a breakthrough upward, followed by one bounce off this new resistance, then a failed attempt followed on the third attempt. After breaking BELOW the resistance, XRP tried again to break thru and rejected. This is a clear sign, there will be a followed spike down. Volume is also supporting the downtrend as it continues to decrease after each pump. Look for XRP to fall first to recent low T1 at $.2225. If 100 MA breaks, look for T2 at $.22 and T3 at $.216. T3 is a front run of the local support and I do expect a reversal within this green support zone. Look for volume jump and a reversal wick up to flip from short to long.
Possible Short Entries: $.227
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.