Howdy everyone!
XRPUSD IMO looks like it has topped out on this current run.
It may have some upward movement left in it to test resistance, but I am in the camp that thinks that it needs to retrace a bit further to make new highs.
We are sitting on a nice S/R zone right now, and are in a local downtrend.
25 cents seems to be a pretty significant support line, which might be good for scaling in.
I think the really sweet spot is between 23.5 cents to 24 cents, and I am loading a good amount there if we go there.
This market may get cute and decide to go under that and test the significant support at 21.5 cents. I'd save a little for that level, too.
If we close below 20-21 cents, IMO that is a continued bear trend signal.
This isn't financial advice, but I'd love to collaborate!
Thanks!
XRPUSD IMO looks like it has topped out on this current run.
It may have some upward movement left in it to test resistance, but I am in the camp that thinks that it needs to retrace a bit further to make new highs.
We are sitting on a nice S/R zone right now, and are in a local downtrend.
25 cents seems to be a pretty significant support line, which might be good for scaling in.
I think the really sweet spot is between 23.5 cents to 24 cents, and I am loading a good amount there if we go there.
This market may get cute and decide to go under that and test the significant support at 21.5 cents. I'd save a little for that level, too.
If we close below 20-21 cents, IMO that is a continued bear trend signal.
This isn't financial advice, but I'd love to collaborate!
Thanks!