Hello Traders,
Ripple has been going sideways for too long. Even when BTC and LTC were going up, XRP was stuck. After getting close to the down trending channel, it started crashing. In the chart, you will find the major support and resistance levels where XRP and bounce back up. At the moment, XRP has touched the 0.96 support and didn't bounce back up with a strong volume so imo, I think we will go down and test the 3 major resistances.
MACD doesn't look promising and it went below the uptrend line I drew from Jan17. If it didn't bounce from the second uptrend line, it will be a confirmation that the price will go down to test the 3 resistance lines at 0.89, 0.801, and 0.7
RSI has also broken the uptrend line which is another bad signal. It reached 30 and if it goes below it means its oversold, and a reversal might start if we reach 20.
The best point of entry would be at 0.7 and 0.566.
Ripple has been going sideways for too long. Even when BTC and LTC were going up, XRP was stuck. After getting close to the down trending channel, it started crashing. In the chart, you will find the major support and resistance levels where XRP and bounce back up. At the moment, XRP has touched the 0.96 support and didn't bounce back up with a strong volume so imo, I think we will go down and test the 3 major resistances.
MACD doesn't look promising and it went below the uptrend line I drew from Jan17. If it didn't bounce from the second uptrend line, it will be a confirmation that the price will go down to test the 3 resistance lines at 0.89, 0.801, and 0.7
RSI has also broken the uptrend line which is another bad signal. It reached 30 and if it goes below it means its oversold, and a reversal might start if we reach 20.
The best point of entry would be at 0.7 and 0.566.