Remain short | 27 March 2018

Wave Analysis:

After the end of the corrective wave (4) around 0.6928-0.7243, Ripple has been in a constant downtrend, but is currently approaching a key hour support set at 0.5197. We expect a possible break below 0.5197 to confirm a possible bearish price rally and may extend beyond 0.23. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lower side and should first break below 0.5197 with the next ideal target at 0.23. According to the hourly chart, we highly recommend looking for short positions towards 0.23.

Trade Recommendations:

Remain short towards 0.23