XRP is going through a tough phase, as is the entire market. However there will be two possible outcomes:
1) XRP is regaining support and purchasing power will drive it to a positive outbreak (green meets red line) with a following upward swing
2) XRP is staying at current overbought status and will take a dive (orange meets red)
The latter is currently much more likely due to the fact that the entire market is tanking and no groundbreaking news really facilitate the interest in XRP.
If you have open positions now would be a good time to liquidate them and buy back at a later point.
1) XRP is regaining support and purchasing power will drive it to a positive outbreak (green meets red line) with a following upward swing
2) XRP is staying at current overbought status and will take a dive (orange meets red)
The latter is currently much more likely due to the fact that the entire market is tanking and no groundbreaking news really facilitate the interest in XRP.
If you have open positions now would be a good time to liquidate them and buy back at a later point.
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Whoop. Nevermind. Here comes the early crash.
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So it looks like my second prediction will come true and we'll see and up and down trend along the orange line until it hits the breakout point.
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RIP in piss (.__.)7