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XRP is going to the support zone

BINANCE:XRPBTC   XRP / Bitcoin
Hello, Traders!
Monfex is at your service and today we overview XRP/BTC.

Often Ripple is a leader in the number of transactions.

At this chart we see a large rising wedge and a double top inside that have already worked, a breakout has occurred and now the price is consolidating between key levels and MA100 MA200.

Stoch RSI is overbought and will soon begin to decline, simple RSI has great bullish divergence , but even if the price will reach the support zone , bullish divergence will remain anyway.

It would be a good idea to sell XRP/ BTC near a key resistance level with a small stop loss and consider buy point near the support zone . But if it will break the key resistance level - than we can take the target of previous highs.

  • The resistance zones ~ 0.00003500 , 0.00003775
  • The key resistance level ~ 0.00003300
  • The support zone ~ 0.00002800
  • The key support level ~ 0.00003080

    Supposed Trade Signal by XRP/BTC
  • Sell near 0.00003290
  • Take profit ~ 0.00002830
  • Stop loss at 0.00003353

  • Market Cap
    $12 672 822 986 USD
  • Volume (24h)
    $1 662 557 682 USD
  • Circulating Supply
    43 248 091 671 XRP

Share your thoughts, ideas about the market under the chart.

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Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
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