Quick countertrend long trade in Ripple
Updated
XRP along with the entire crypto-complex, remains in a downtrend. But we see an opportunity for a short-term counter-trend long here with a decent risk reward. Would look to get long at current levels (0.638), looking for a bounce to the PoC at 0.675 (with optionality of a move higher), while using 0.615 as stop, giving us a risk:reward of around 2x.
Trade closed: stop reached
Closing the trade as stop hit, -3.6% on the trade.
Disclaimer
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.