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Xrpusdshort

Ripple is approaching major support, watch for potential bounce!Ripple has dropped strongly and is now approaching major support at 0.8224 (Fibonacci extension, Elliott wave structure, horizontal swing low support, bullish divergence) and a strong bounce could occur at this level to push price up to at least 1.1511 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing major support above 8.4% where a corresponding bounce could occur. We are also seeing major bullish divergence vs price signaling that a reversal is impending. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:XRPUSDLong
by Tickmill
Ripple dropping strongly, watch for a pullback to resistance!Ripple is dropping really strongly and we watch for the pullback to our 1st resistance level at 1.1508 (Fibonacci retracement, horizontal breakout resistance level) where it could serve as a possible re-entry level for price to react off and make a push down to 0.8729 support (Fibonacci extension, horizontal swing low support). RSI (89) has made a bearish exit of our long term ascending support-turned-resistance line and also has broken below our 42% support opening a large downside move. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITSTAMP:XRPUSDShort
by Tickmill
1
Ripple has broken a major descending resistance line!Ripple has made a bullish exit of our long term descending resistance-turned-support line triggering a potential bullish move to push price up towards 1.7564 resistance (Fibonacci retracement, Fibonacci extension, horizontal overlap resistance). Our 1st support remains at 1.2007 (pullback support, overlap support). Stochastic (55,5,3) is seeing ascending support in line with the bullish momentum we’re expecting on Ripple. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITSTAMP:XRPUSDLong
by Tickmill
1
Ripple above major support, prepare for a potential bounce! Ripple remains above major support at 1.2007 (Fibonacci retracement, horizontal overlap support) and a potential bounce could occur at this level to push price all the way up to 1.7564 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (55,5,3) is seeing major support above 39% where a bounce could occur in the intermediate future. It also has good upside potential. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITSTAMP:XRPUSDLong
by Tickmill
2
Ripple facing tremendous bearish pressure!Ripple continues its drop and is seeing tremendous bearish pressure as it maintains its bearish channel formation. With continued bearish pressure, we see the first major level of resistance at 2.2225 (38.2% Fibonacci retracement, 50% Fibonacci retracement, horizontal overlap resistance, channel resistance) and a further drop could occur below this level towards first intermediate support at 1.5960 (61.8% Fibonacci retracement, horizontal swing low support) before major support at 1.2434 (78.6% Fibonacci retracement, horizontal pullback support). Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITSTAMP:XRPUSDShort
by Tickmill
15