Ripple came out of a quite dangerous consolidation for buyers at under $ 0.9.
It looks like a decline of 85% from the maximum at $ 3.5 to a minimum of $ 0.5 was enough to meet the ambitions of the bears. At least for now.
So XRPUSD rose and consolidated above $ 0.9. Moreover, MA cross yesterday gave a signal to buy.
Now even within the rebound of 40% Ripple could as well grow to $ 1.7
At $ 1.5, there is a slow moving average, which is likely to be a resistance level.
In terms of the current growth, Ripple looks weaker than Bitcoin or Litecoin.
Therefore, we do not recommend buying it. However, short positions from these levels are now too risky ...
Recommendation: Neutral, step aside for now and watch XRPUSD from afar
It looks like a decline of 85% from the maximum at $ 3.5 to a minimum of $ 0.5 was enough to meet the ambitions of the bears. At least for now.
So XRPUSD rose and consolidated above $ 0.9. Moreover, MA cross yesterday gave a signal to buy.
Now even within the rebound of 40% Ripple could as well grow to $ 1.7
At $ 1.5, there is a slow moving average, which is likely to be a resistance level.
In terms of the current growth, Ripple looks weaker than Bitcoin or Litecoin.
Therefore, we do not recommend buying it. However, short positions from these levels are now too risky ...
Recommendation: Neutral, step aside for now and watch XRPUSD from afar
