XRP: Economic Machine
Price Action
Price is consistently trading lower, even though a foundation is buying built around the XRapid payments system. Q1 and 2 of 2019, we've had nothing but great data that should've built confidence for Ripple. Despite positive news about MoneyGram and PNC Bank, price manages to sell off to the downside. After price manages re-test supply levels at 0.28, we see more bear momentum to the downside.
My bias is set to see price re-test 0.12 before creating new highs to confirm we're back into a bull market. There's too much bear momentum, and price is consistently making new lows after breaking below solid support levels. Let's wait on price to trade even lower, breaking below the currently trend, and to re-test previous support for a sell limit order to be executed.
Price is consistently trading lower, even though a foundation is buying built around the XRapid payments system. Q1 and 2 of 2019, we've had nothing but great data that should've built confidence for Ripple. Despite positive news about MoneyGram and PNC Bank, price manages to sell off to the downside. After price manages re-test supply levels at 0.28, we see more bear momentum to the downside.
My bias is set to see price re-test 0.12 before creating new highs to confirm we're back into a bull market. There's too much bear momentum, and price is consistently making new lows after breaking below solid support levels. Let's wait on price to trade even lower, breaking below the currently trend, and to re-test previous support for a sell limit order to be executed.
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