Technical crypto analysis based on breakout – Short term selling


Short term selling

Technical Observation

So far, XRP has successfully managed to go beyond the first two Simple Moving Averages (14, 52) but is still below the third one (90 SMA). The price is likely to bounce from the middle SMA which could lead to a rally to the lower side, however, should the price breakout above the middle SMA, then I’ll expect a surge upwards towards the 90SMA and may break above it. As its is, I advice looking for a short term short position, but should the price get above the 90SMA, then I’ll expect a spike upwards $0.9125.

Trade Signal.

Look for a short term sell position towards $0.5302

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