Short

XRP Descending to the deeps

Updated

Note the yawning maw not only of the realistic shark- but of the huge volume well between here and around 23c. If we break and do not bounce from the 34-36c level then my next target is 24 cents.

I am actually expecting a short term bounce before the shark eats ripple's lunch...

Note

chum is being thrown into the water

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There is not much support here, we could easily slide right through towards the high 20s.

Note

seems to be holding up pretty well considering the volume well. buyers stepped in at the previously mentioned 34c level. While we could bounce, the trend is still down, blood is in the water.

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next stop 26 to 24c and probably 19c.

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I would not short here. I'm a buyer from here downwards.

Trade closed: target reached

Will not be seriously accumulating until much lower.

Targets hit. Waiting for more downside.

Cheers!

snatly

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