After a spike to the upperside during the previous week, Ripple is now pulling back to the lowerside. We expect the downward rally that began few days ago to be the unfolding of the corrective wave b and should not go beyond 0.36815 where we’ll be looking to buy the last impulsive wave c towards 0.68315. This view can only be invalidated in case the price breaks below 0.36815, If this should be the case, then we’ll wait for a correction to the just broken level to pick a long term short position.
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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