Pulling back slowly | 16 March 2018

Technical Observation

Yesterday, XRP pulled back slightly to the upper side, but still very bearish from a wide point of view. Last week's, weekly candle was a perfect bearish pin bar candle and signals a possible increasing in the number of sellers. Thus, I expect further momentum to the lowerside. In the meantime, I'm waiting for a close below the short term support line $0.7545 to confirm a bearish rally towards the weekly support line fixed at $0.3272. If this price should breach this support, then it will mean the price is still bearish towards $0.0975.

Trade Signal.

Short XRP towards $0.3272

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.