Ripple: Going Down is fun
Ripple is up by 0.3% today, this is based on Bitcoin falling a little on the ETF rejection news.
What will Happen today?
Ripple has a habit of bouncing off the RSI Trendline as can be seen below, this would project ripple to the current volume gap at 0.325 level, before being rejected by the 90D MA, a historical resistance/support indicator.
There is a lot of negative sentiment in the market, XRP is the only Crypto-Asset that has 2/5 Market sentiment today, this would be enough to get it to our required short levels, in time for Bitcoin to crash, bringing ripple to the 0.302 line.
Moreover, currently Ripple is in a rising wedge, we should see a dump, that would take it to the 0.305 line, which would be an area of difficulty, with a high potential of a bounce from that area.
The volume is slowly decreasing, illustrating to Nouvive we should see a move down soon.
Therefore Nouvive awards RIPPLE / XRP a SELL
See the levels below:
If You want to Short: Enter a position at just below $0.324 with a take profit at below $0.3033. Increasing Stop Losses as when in Profit.
The first stop loss should be at $0.326.
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