Trading plan: XRPUSD (Ripple)
Ripple is going to grow. The nearest resistance level is near $ 0,6773 (look at point 1 on the chart). If Ripple can overcome this obstacle, then we will see the growth of its rate in the matter of a few days. Then XRPUSD will move up to $ 0.7 and $ 0.73.
Priority of the day: neutral position on XRPUSD.
An analysis of the volume of Ripple indicates a decrease in the strength of the bears (look at point 2 o the chart).
Projected scenarios:
1. Sell XRPUSD from $ 0.67 to $ 0.6435.
2. Ripple can stay in a narrow corridor for a couple of days: $ 0.67 - $ 0.65.
An alternative scenario:
The rate of XRPUSD will go up to $ 0.73. The weakness of the bears and a strong level of support for bulls near $ 0.6435 (blue line on the chart) are in favour of this scenario.
Priority of the day: neutral position on XRPUSD.
An analysis of the volume of Ripple indicates a decrease in the strength of the bears (look at point 2 o the chart).
Projected scenarios:
1. Sell XRPUSD from $ 0.67 to $ 0.6435.
2. Ripple can stay in a narrow corridor for a couple of days: $ 0.67 - $ 0.65.
An alternative scenario:
The rate of XRPUSD will go up to $ 0.73. The weakness of the bears and a strong level of support for bulls near $ 0.6435 (blue line on the chart) are in favour of this scenario.
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.