Since may this year, Ripple has remained confined within the falling channel formation and is still pretty much bearish both on the daily and weekly charts. As long as the price remains within this channel, we expect a possible momentum to the lower side. Although the bearish price rally is highly anticipated, we’re actually waiting for the corrective wave (4) to rebound from the upper trendline to sell the impulsive wave (5) with an ultimate target at 0.02.
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.
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Bob Stan
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