Hi friends! I hope you are all doing well. Taking a look at the four hour chart for Ripple, we can clearly see that the weakness is continuing. It has fallen out of the bear flag that I showed you yesterday, only to form another bear flag consolidation below it. XRP remains in a downtrend channel, and is experiencing relentless expansion of sell-side momentum. I see broad weakness in the crypto markets, and it appears as though they are setting up for an epic fall. Bitcoin, Litecoin, Ripple, Stellar, and so many more, are pushing on critical support. If the buyers dont step in, to rescue this market, it WILL fall. Because of the broad weakness, I do expect a panic driven selloff to occur. Unless the technical picture changes quickly, things are not looking good. On the downside for XRP, support lies at the 200 EMA (in purple,) and the bottom of the downtrend channel. A break below that, will send XRP to the next support level of $1.41, at the 61.8% retrace. However, if a panic driven selloff takes place, prices could fall below $1.00. Don't say I didn't warn you. =D
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-