XRP is getting ready for a breakout.

XRP is oversold in the weekly chart. Tom Demark counted red 9 on the weekly and kept counting 5 more red candles. At the moment the price stands on very important support (6108). In the week of October 8, 2018, we have hit the 6108 support and then price increased to 10850. I don't think 6108 will be broken in these oversold conditions. I think we will have a double bottom formation and soon XRP will have a breakout. We can target weekly MA50 level (7598) on our long trade.

Here is my low risk, high reward long term trading idea:

Buy: 6170-6180
Sell: 7598
SL: 5950

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***