Trading plan: XRPUSD (Ripple)
Ripple is going to grow. The nearest resistance level is near $ 0,6773 (look at point 1 on the chart). If Ripple can overcome this obstacle, then we will see the growth of its rate in the matter of a few days. Then XRPUSD will move up to $ 0.7 and $ 0.73.
Priority of the day: neutral position on XRPUSD.
An analysis of the volume of Ripple indicates a decrease in the strength of the bears (look at point 2 o the chart).
Projected scenarios:
1. Sell XRPUSD from $ 0.67 to $ 0.6435.
2. Ripple can stay in a narrow corridor for a couple of days: $ 0.67 - $ 0.65.
An alternative scenario:
The rate of XRPUSD will go up to $ 0.73. The weakness of the bears and a strong level of support for bulls near $ 0.6435 (blue line on the chart) are in favour of this scenario.
Priority of the day: neutral position on XRPUSD.
An analysis of the volume of Ripple indicates a decrease in the strength of the bears (look at point 2 o the chart).
Projected scenarios:
1. Sell XRPUSD from $ 0.67 to $ 0.6435.
2. Ripple can stay in a narrow corridor for a couple of days: $ 0.67 - $ 0.65.
An alternative scenario:
The rate of XRPUSD will go up to $ 0.73. The weakness of the bears and a strong level of support for bulls near $ 0.6435 (blue line on the chart) are in favour of this scenario.
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