Short XRP below $0.5253 | 29 March 2018

Technical Observation

XRP is currently trading with an increasing bearish momentum. Yesterday, XRP plunged steadily but is currently approaching a key hourly support $0.5253. I expect a break below this support to culminate into further momentum to the lowerside and may break below $0.2341 towards $0.1012. This bearish price rally seems more ideal than a move to the upper side, and therefore, should the price break below $0.5253, then I advice looking for short positions towards $0.1023. This downward rally is supported by the fact that, XRP is currently rally below the three SMA (14, 52, 152), and unless there's a clear breach above the 152 SMA, I expect a rally to the lower side.

Trade Signal.

Short XRP below $0.5253 towards $0.2311

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.