Art_of_Trading

Ripple (XRP) - Backtesting Strategy

Short
The RIPPLE price moves are very correlated to BTC moves. When the BTC falls, the ripple usually follows its reaction. There is a similar setup here. The price brokeout the support level. However, there are some buying orders last few hours that pushed the price up. If it continues going up and reaches the breakout zone, we may expect the backtesting scenario. The new selling orders are expected to be placed in this area. Thus, I assume the price will continue going down after this small correction move.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.