Bitstamp: #XRP Midterm #Trend Trade: 6H persepctive
#XRP is more likely to keep #down #trending in correlation with #bitcoin. #RSI within a decsending #channel. There is likely a pullback along the way which would make RSI reach around 40 to 50 level. However, in the 4H & 6H frames, it is more likely for further #bearish move starting by breakout of $0.560. The Moving Average supports the descending. Additionally, #NR in 12H and #daily frames gives a clearer #exit #signal for midterm traders when breakout of $0.550 level accompanied with RSI up-swing failure. Note that XRP is still in high correlation with BTC movement. XRP will likely follow BTC if breakout of $6500 (+/- 200)
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XRP
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.