Rip About to Take a Dip?

14 thg 3, 2018

It looks to me like Ripple is about to head back down under ~$0.74 pretty soon. It is getting squeezed by both overhead resistance and support beneath. Based on the fact we are in a bear market it is more likely to head down than up. If it does break the support it will likely retest the previous low of ~$0.54. I really hope I'm wrong.

14 thg 3, 2018

Ghi chú

It looks like I was correct about XRP breaking through the ascending channel. It appears to have bounced at $0.64 for now but there isn't a ton of volume behind. At present (March 14 7:30 pm) XRP appears to be stalled trying to get back over the $0.70 mark. It hesitated a bit at this psychological barrier on the way down as well. Personally, I'm going to wait and see how this develops. I think it's a terrible idea to try to catch the falling knife.