Technical crypto analysis based on breakout – Still short


Still short

Technical Observation

XRP is currently trading with a neutral bias. Yesterday, Ripple pulled back slightly to the upper side but is still showing signs of plunging even further. As I said on the Thursday’s analysis, unless the price clearly breaks above the three simple moving averages (14, 52, 152), long term traders should expect a surge to the lower side with the first stop being at $0.5215. If this line is breached, then a surge towards $0.2490 or even lower is expected. However, a rise above $0.8095 may push the price upwards with the next place being $1.1568.

Trade Signal.

Still short

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