Warning! XRP looks like it's about to fall of a cliff!
XRP has dropped below the bottom descending wedge trend line, and is now in very dangerous territory! If price fails to get back above the lower trend line, it looks like XRP will literally sh@t the bed, and fall off a cliff! If this is the case, we could see XRP in the lower .40's quicker than you think.
Selling into the market by short's opening short positions, forced liquidations from spent long positions, and panic selling by investors/traders who bought in the mid .50's hoping for a rebound, may cause 'The Perfect Storm!'
This will be very interesting to watch!
Selling into the market by short's opening short positions, forced liquidations from spent long positions, and panic selling by investors/traders who bought in the mid .50's hoping for a rebound, may cause 'The Perfect Storm!'
This will be very interesting to watch!
Comment:
Here's a look at the daily chart to give you a better idea of what the overall trend looks like.
Comment:
The fall in xrp is very close to being negated. I'm overall bullish for xrp, so hopefully it will pop up from here. The .50 level is crucial!