The past few days have been rough for anyone holding XRP. The Swell conference, may have had a star studded list of speakers, but provided nothing but pain for those who held XRP through the conference. With that being said and the conference now being over, we are seeing XRP looking to break out of the bearish skid it has been in for the past few days (under red trend line).
I have adjusted my bullish trend line from my previous post (link below) that did not hold, in hopes of being able to revisit this again.
At the time of posting this we have our first completed 4 hr candle, and I am anticipating the close of a second green. Volume has looked solid, but I am still cautious to call this a reversal until I see another green candle.I have adjusted my bullish trend line from my previous post (link below) that did not hold, in hopes of being able to revisit this again.
If you do decide to trade at this level, tread lightly, and use a stop loss. I would also add, that for the shorter term traders and scalpers, there have been some very good opportunities to get in and out of ripple quickly for profit even through the down trend. If you are planning to scalp trade this volatile market, please use a trailing stop to minimize risk, and maximize returns.
Happy trading
Cheers!
I have adjusted my bullish trend line from my previous post (link below) that did not hold, in hopes of being able to revisit this again.
At the time of posting this we have our first completed 4 hr candle, and I am anticipating the close of a second green. Volume has looked solid, but I am still cautious to call this a reversal until I see another green candle.I have adjusted my bullish trend line from my previous post (link below) that did not hold, in hopes of being able to revisit this again.
If you do decide to trade at this level, tread lightly, and use a stop loss. I would also add, that for the shorter term traders and scalpers, there have been some very good opportunities to get in and out of ripple quickly for profit even through the down trend. If you are planning to scalp trade this volatile market, please use a trailing stop to minimize risk, and maximize returns.
Happy trading
Cheers!
-machinelearnt
Potential support levels to watch for bounce:
.184
.168