Today I was watching "The Battle of the Quarter" - Ripple XRP trying to break above the Quarter Dollar resistance level. Based on how the charts look like, it seems it failed. So, following up on a previous idea, it should bounce back towards the 0.5 Fib. level around the $0.2 mark. However, as I mentioned before, even though I think that we can be short for some little profits, I strongly advise [B]BIG CAUTION due to a very likely price explosion of XRP, once Ripple makes the official announcement about locking down $55 bn coins.
Note
As a possible scenario, based on the 4h chart, we can see a support level somewhere around $0.21:Trade closed: stop reached
It seems I was wrong and that divergence was a fake signal (or maybe I didn`t read it right). Well ... since long term XRP is a hold ... glad the price is going up :)
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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.