Ripple has had an incredible flight the past week and has brought many traders some profit they needed in this kind of market. Now I believe it is time to TAKE profit (and potentially make more by shorting). Currently, we are severely overbought on every timeframe including the 1D, 4H, 1H, 30M, and 15M. The MACD is currently bullish but looks like it may cross into a bearish pattern very shortly. AO also indicates it might flip negative very soon. Ripple has exploded a lot the past few days without proper correction and I believe that is coming soon.
I would short right here at 10,050 sats while you have the chance.
I would short right here at 10,050 sats while you have the chance.
Note
Forgot to mention, XRP has hit a major fibonnaci level and will probably bounce back down.Note
And we have hit 9,760 with a nice short opportunity.Note
If XRP rejects 10,050-10,080 sats again, it has the chance to drop down below 9,500. Be warned.Note
Looks like Ripple broke 10,050 sats again, next stop 9,000 range!Trade closed: target reached
Looks like Ripple played the fibonnaci lines exactly how we planned. If you shorted at 10,050 sats and closed at 9,000 sats (which is the level I indicated), you could have made 110% profit on 10x. Keep eyes on XRP as it attempts to test the fib line again at 10,050.i.imgur.com/G0m251N.png
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.