Coin Calls: Ripple
Ripple: Time to Go Again
Ripple is one of the only coins over the past one week that has seen over two green days. More recently, Ripple on news that they had confirmed 42ndPresident Bill Clinton saw a close to 6% pop.
Nouvive has been monitoring Ripple for the past several months. Nonetheless, on the higher time frames, we are interested in the double bottom that has presented itself.
The green box illustrated below shows that every time the wick touches it, it bounces by over 5%. Ripple has never dipped below this support level during the course of the year.
The selling pressure is slowly decreasing, meaning that volume for buys will overtake it leading from the green box (our entry level) to our take profit level.
Enter buy 50%: $0.42571
Enter buy 50%: $0.42438
Take Profit 100%: $0.518
Profit: 20% – Move Stop Losses up whenever in profit
Stop Loss: $0.42171
Time Line: 3 Weeks
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