XRPShort
XRP making higher lows
On 24 November we saw XRP making recent ATH at .79 and got slaughtered at the price level. And made a lower low on 29 Dec never to be seen again till now. There is still a lot of believers who keep buying between 20c - 50c range but the moment it goes over 60c it is faced with previous bag holders trying to get out. The breakout pattern it has formed in chart recently, explains what i just mentioned.
This breakout i believe will be very important event in xrp history.
Bearish Breakout = XRP is Dead
Recent dip in volume suggest a bearish breakout.
RSI is making similar structure to price action but shows weakness in price action recently.
I have a low confidence bearish bias. But will only enter after breakout confirmed.
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Disclaimer
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.