Ripple: Short on 1H, but yet Long on 1D !

Hi, Traders ! Monfex is at your service !

Ripple’s CEO Brad Garlinghouse claimed in an interview that Ripple will have the same impact on fintech that Amazon did on the book industry.

* Whether or not the statement of Ripple's CEO makes sense in the long-term, we still see that Ripple is gaining popularity among global investors.
* Even though XRP is going South in the short run, it could be a perfect chance to jump in this crypto in case the price returns to the Long-term Accumulation Zone inside $0.2150 - $0.2500 price range.
* Long-term targets remain intact: the 1st at $0.3250; the 2nd at $0.4000; and the 3rd at $0.4830.
* On 1H Chart we see that the price has formed a double top around $0.2850 level and, as confirmed by RSI divergence, has accomplished the short-term upward cycle.
* Now we anticipate the price to return to $0.2150 - $0.2500 range, but for a short while. On the way down we are opening Shorts at price spikes and minor upward corrections.

Trading strategy

Buy (long-term) @$0.2150 - $0.2500.

Sell (short-term) @$0.2650 - $0.2700.
Nearest Target: $0.2500.
Stop-loss: $0.2780.

Watch for our Updates to get real-time superior signals!


This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. 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.
Join Monfex Free Webinar and Become a Bitcoin Day Trader!
*Limited to 100 seats

Find new trading ideas on:
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out