Ripple(XRP): Multiple Selloffs = Soon Drop?

11 gru 2023

We've observed significant sell-offs, characterised by long wicks, which indicate selling pressure. The market appears to be bouncing, forming a series of broken zones, yet no significant movement to lower zones has happened!

As we navigate through this choppy terrain, we're keeping a close watch on the intersection of the Bollinger Bands' middle line and the major support trendline. A decisive break below this confluence has intensified selling momentum, pushing prices towards the lower Bollinger Band or beyond.

Our gameplan is to wait for some sort of re-test in the upper zones (closer back to the middle line of Bollinger bands). Once we are near that zone, we are going to look for a potential further downward movement, and we will catch it as well if we can.

12 gru 2023

Uwaga

XRP is still in range near 200EMA trying to secure it fully for potential upward movement here!

We are waiting for that zone to be filled and then we are going to look for a nice entry to lower zones!

13 gru 2023

Uwaga

We are still waiting for this zone to be reached. As of now, the price has shown a rejection near 200 EMA, but we are still seeing and waiting for that "sell zone" to be reached, where we are going to look for a short!