Hi Traders,
We have here a great XRP trade opportunity. Last week we saw incredible gains from XRP but are now looking at a nice correction. The 0.618 Fib retracement on the daily has been hit. On the hourly chart we can see a bearish flag forming, currently price is testing support and resistance. We will want to see a short term rise to the top of the flag and will also want to see a nice test of the resistance level around $0.61, if this is so we will be look for an entry to the down side, with price testing the $0.47 area. However, as we have seen high volatility in the market, price could break through the flag either way. There has been great demand on XRP with the November candle seeing the most volume ever!
XRP / USDT
SELL/SHORT
Entry Zone: 0.6145
Take Profit 1: 0.471
Stop Loss: 0.651
If you like the content please like, follow to keep updated! Also comments on any ideas are welcome.
Thanks
The Market Sniper Team
We have here a great XRP trade opportunity. Last week we saw incredible gains from XRP but are now looking at a nice correction. The 0.618 Fib retracement on the daily has been hit. On the hourly chart we can see a bearish flag forming, currently price is testing support and resistance. We will want to see a short term rise to the top of the flag and will also want to see a nice test of the resistance level around $0.61, if this is so we will be look for an entry to the down side, with price testing the $0.47 area. However, as we have seen high volatility in the market, price could break through the flag either way. There has been great demand on XRP with the November candle seeing the most volume ever!
XRP / USDT
SELL/SHORT
Entry Zone: 0.6145
Take Profit 1: 0.471
Stop Loss: 0.651
If you like the content please like, follow to keep updated! Also comments on any ideas are welcome.
Thanks
The Market Sniper Team
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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.
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.