As Ripple / XRP is the major news these couple of days, I expect a lot of people are concerned about how this will impact not only XRP but also the broader markets. I wont go into the context in detail before, but rather lay out two potential scenarios and trade setups purely from a technical perspective.
We have broken down below the 61.8 Fib retracement and the previous S&R flip, which has now flipped again into resistance (red box). If we retest that and get rejected, we are likely going down. Alternatively, if we break back above it, especially if then retest it as support and it holds, we are likely to continue rallying.
AKE SURE YOU FOLLOW ME SO THAT YOU DONT MISS TRADE SIGNALS, GET THE LATEST SL AND TP LEVELS, AND FOLLOW THE TRADE PLAY OUT IN REAL TIME!
DISCLAIMER: I'M NOT A FINANCIAL ADVISOR AND THIS IS NOT FINANCIAL ADVICE, AND I WILL NOT BE RESPONSIBLE FOR YOUR WINS OR LOSSES, DYOR.
We have broken down below the 61.8 Fib retracement and the previous S&R flip, which has now flipped again into resistance (red box). If we retest that and get rejected, we are likely going down. Alternatively, if we break back above it, especially if then retest it as support and it holds, we are likely to continue rallying.
AKE SURE YOU FOLLOW ME SO THAT YOU DONT MISS TRADE SIGNALS, GET THE LATEST SL AND TP LEVELS, AND FOLLOW THE TRADE PLAY OUT IN REAL TIME!
DISCLAIMER: I'M NOT A FINANCIAL ADVISOR AND THIS IS NOT FINANCIAL ADVICE, AND I WILL NOT BE RESPONSIBLE FOR YOUR WINS OR LOSSES, DYOR.
