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We're short as long as the price remains within the falling channel formation.

12 July 2018, XRP

We're short as long as the price remains within the falling channel formation.

Wave Analysis

Since April this year, Ripple continues to rally within the falling channel formation and is not showing any signs of breaking out of it. As long as the price remains within this shape formation, we expect a possible momentum to the lower side and should break below 0.4134. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and may break below 0.23 but should not go beyond last year's lowest low 0.121. We may only buy ripple above 0.5414.

Trade Recommendations:

We're short as long as the price remains within the falling channel formation.

101% Double the volume

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Graham Osano
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