Tez8

XRP Bear Market - test the 200MA support $0.40

Short
BITSTAMP:XRPUSD   XRP / U.S. Dollar
SUMMARY: Short, XRP is in a downwards trend and looks like it will test the 200EMA support - approximately $0. 40 level


-- Technical --
On the weekly, XRP has been massively overextended and is in a corrective wave pattern.

Anticipate a few more weeks of downwards price action but could present a buy opportunity around the $0. 40 , providing it hold the both the swing low and 200 EMA support.

XRP has an upcoming death cross on the daily, about 2 weeks away providing we keep the current down trend.


-- Fundamentals --
SEC court case continues, SEC lawyers want to permanently ban XRP from trading in the US.

If this happens, it will be very hard to XRP to reach critical massive volume to push its' price action to crazy heights.



Please HIT the --->>> "LIKE" and "FOLLOW" button. <<<----

*Not financial advice and is for educational purposes only. Always DYOR.

SO: What do you think, have I got it right? Let me know below.

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