Technical crypto analysis based on breakout – we’re in sellers territory


we're in sellers territory

Technical Observation

XRP is currently trading with an increasing bearish bias. So far, Ripple has successful gone below the three Simple Moving Averages 14, 52, 152. And as I said earlier, while the price is contained below these SMAs, then I expect a momentum to the lower side. I’m waiting for a clear break below $0.5500 to culminate into a possible bearish momentum towards $0.4100. As it is on the daily charts, only short positions can be recommended, however, should the price break above $0.8532, then this will be a good place to buy ripple towards $1.1568.

Trade Signal.

Only buy XRP above $0.8532

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