Remain short | 22 March 2018

Wave Analysis:

During the previous trading day, Ripple rebounded perfectly from the hourly resistance zone 0.6976-0.7245 and is still pretty much below this zone. We expect this zone to have marked the end of the corrective wave (5) to the upper side that the current bearish price rally is the continuation of the impulsive wave (5) to the lower side and should not go beyond 0.5220 by the end of this day. However, any clear break below 0.5220 will push the price to the lower side with an ultimate target at 0.3200. According to the current chart set and structure, only short positions looks more ideal.

Trade Recommendations:

Remain short with an ultimate target at 0.52200

The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.