Ripple has a very familiar formation to BTC right now. We are hitting this massive and coming off of it.
Some observations on the .
1. is crossing up, but not with much strength.
2. is in the middle.
On the 4 hour:
1. is very high and while , looks a little over extended.
2. is creating a little bit of divergence, but it's not really there on the smaller time frames.
There are multiple scenarios with how you can play this right now.
1. Throw a buy stop just above these highs at .67 cents for a move up to .75.
2. Wait for the break and rebuy at the .65 cent area.
3. Or wait for a pull back and buy in the .55 cent area. (this scenario especially I would use a martingale strategy to start laddering buys in, or throw a stop below the channel)
This is going to follow what BTC does. So if BTC breaks up and hits this 8.75k mark and ripple has broken up with it and is at .80 cents at the time. That would be a good time to sell. Even though ripple wouldn't be hitting a , it flows with BTC and the likely hood that we will get a move down from the 8.75k-9k area is very high. That is what I would be watching.
Your resistance points on the upside are .75 and .88, but again watch for wherever BTC is and what it's doing.
On the downside you have .55 and .45 areas. With very strong support below that at .30 cents.
Don't stress, don't use leverage and pick your points!