Ripple Entry Point

Ripple Entry Point

* We always provide both the bullish and bearish scenarios because the traders should be aware of what to expect in both cases.
Ripple is stuck between $0.87 as a resistance level and the 200-day SMA as a strong support level in the last few days. If the bulls can clear the $0.87 hurdle we expect a move to $1.13 level (It's 23.6 percent Fibonacci retracements from the fall from $3.30 to $0.466) with some resistance at $0.933 level.
Moreover, the moving averages offer great support for Ripple starting from 200-day SMA to 50-day SMA, as a result, we suggest buying any dips to these averages ( 200-day SMA now at $ 0.77, 20-day EMA now at $0.74).
Traders can also open long on a break out above $0.933 level. Ripple can only turn negative when it breaks down the 50-day SMA.
Please be noted that I'm just giving the possible higher or lower levels developing according to the chart patterns. It's my own analysis. You should conduct your own research when making a decision.

Trade Ideas
View all