Monfex_UK
Short

**Ripple has entered the Down Mode**

COINBASE:XRPUSD   XRP / U.S. Dollar
Hi, Traders ! Monfex is on the air !

Ripple is in the Down Mode on H4 / inside the large contracting triangle.

* The bullish denial is observed on the upper band of the triangle as the price has formed up a minor double top around $0.31 level.
* On 1D time-frame, the price is hanging around the 21 Daily EMA and, as of now, is very close to breaking it down.
* We expect the down motion to keep going in the short-run, while the price could easily hit $0.2640 - at the lower band of the triangle.
* The largest accumulation area is located within $0.2150 - $0.25 range and as well represents the strongest major Support Area .
* MACD expands into the negative territory on H4 assuming that the downward momentum could easily speed up.

Active trade signal

Sell @ $0.29 - $0.30.
Target: $0.2640.
Stop-loss: $0.3125.

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

GOOD LUCK AND LOTS OF PROFITS !!

Disclaimer
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.

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