XRP SHORT IN RANGE
Updated
XRP has been in a set range for a while now, and now it hit the range high. If the range high is not broken, we can expect to see return to range middle or even range low in next few days or weeks. This goes against yesterday's BTC bullish pinbar, but the pinbar doesn't seem to be following trough. If BTC remains above 19k, small bullish momentum is possible and XRP might react to it.
Not advice, just opinion.
Not advice, just opinion.
Note
BTC broke below 19k (18.870 at the moment) which indicates increased chances of short follow trough.Trade closed: stop reached
As XRP went above the range high, the trade got stopped. Loss was minimalized by a stop, since environmental factors (BTC) favored a bullish momentum. This break of range high may result in a new high formation, but going long in current environment is risky as there is no sign of market rally. Seeing XRP return to range or even range low is still within reason, but taking any position at this moment carries high risk.
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