XRPBTC - The market isn't sure what to do with Ripple right now
Steady climbs over the past couple days after a week full of negative community chatter, but the sudden drop isn't following any TA or news that I can find. At the moment, it's breaking down through soft support around 16300 sats, but trying to recover over the line at the same time. We'll be looking at a convergence around 16300 in the next 5 hours, which will give us a better idea of whether Ripple finds its feet again and takes us up around the 17500 mark, or if it continues to fall down around the 13500-14000 area over the next 24 hours.
Watch for breakout or breakdown around 16300.
Breakout Scenario:
Target 1: 17500
Target 2: 19400
Breakdown Scenario:
Stop Loss: 14200
Re-entry: 12700-13500
Watch for breakout or breakdown around 16300.
Breakout Scenario:
Target 1: 17500
Target 2: 19400
Breakdown Scenario:
Stop Loss: 14200
Re-entry: 12700-13500
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