Ripple is still rallying below the three SMAs perfectly as I mentioned few days ago. This is a potential bearish indication and while the price is contained below the three, I expect further momentum to the lowerside and should first break below 0.4225. If you’re not already in a short position, you could wait or a clear breach below $0.4225 to confirm a possible rally to the loweside with an ideal take profit at $0.2312. As it is on the hourly chart, only buy sell positions looks ideal, but should the price ascend above 0.5125, then I’ll pick a buy 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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Imelda Maseno
Analyst of «FreshForex» company
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