Technical crypto analysis based on breakout – Sell XRP now towards $0.2310


Technical Observation

Just as in the BTC and Ether, Ripple rallied lower and is still trading with and increasing bearish bias. Few days ago, the price went below $0.6303 and most importantly below the two Simple Moving Averages. As I said earlier last month, while the price is contained below these three, SMAs and $0.6303, I expect a surge to the lower side. Ideally, I expect a breakout below $0.5465 to confirm a possible rally further to the lower side with my next take profit being $0.2310. As it is, only short positions can be recommended.

Trade Signal.

Sell XRP now towards $0.2310

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