This chart is in EUR. While most want XRP to go very high, I see more downside on the short-term.
I believe it will hit 1.37 eur support towards the bottom of the boillinger band. This could be the completion of a corrective ABC as a 2 leg in 12345 uptrend.
The MACD and SAR on the 4 hour is bearish.
On the 1 day, the MACD has crossed over showing more downward pressure, so further downside to 1 EUR is not out of the equation either.
I would trade XRP very carefully right now.
Trade closed: target reached
XRP went down to 1.38 euro and bounced on that support to the middle of the 4 hour boillinger band.
the 4 hour sar and 1 day MACD are still bearish, so 1.38 could be retested.
note that such swings are ~30% swings in ~1hour , huge !!!!
I would stay out of XRP for the time being. Closing since 1.38 was reached
Trade active
There is more downward pressure with a very bearish MACD in the 1 day candle. I would not be surprised to see a "flash" test of the 1 EUR level.
Fun trade would be to put a buy order at 1 EUR and play the dead cat bounce.
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