Bloody Monday: Short the top of XRP/Ripple
Despite the excellent Ripple news based upon their increase of exchange activities and their latest Marketing endeavour.
The technical analysis disagrees with the fundamental analysis.
It appears that Ripple has once again topped out of their local high, thereby causing Nouvive to issue a SELL.
Based upon the technical data, it appears that Ripple like it did on Friday, topped out when it hit the $0.33 line.
This is as a result of increasing sell pressure in that area.
As a result of this and the decreasing Market sentiment, Nouvive recommends shorting in the 0.33 area, and taking profit at the 0.318 area.
This represents the same area in which there has been a temporary range for the past several days.
Moreover, this coincides with the volume where it can be seen that there is decreasing volume, therefore a Move will happen shortly.
Nouvive issues a sell at 0.33 with a take profit at 0.318 and an initial stop loss at 0.332.
Always increase stop limits in profit.
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