Short recover for XRP
Hi guys,
Some positive signal for XRP after sharp decline from 0.967$ zone to set a new low at 0.54$ yesterday. However, a new double bar pattern has shed light on a short corrective for XRP. Generally, price is moving below Ichimoku cloud with a fair volume, and also new lower highs and higher lows indicate that downward still is the main trend, so the expect now is price to climb back to 0.7$ zone (0.382 Fib level), before dwindle lower to 0.43$ zone. Anyway, any increase to above 0.8$ (0.618 Fib level) would be very good buy signal, illustrate that bulls will take control.
Safe trading guys!
Tung Nguyen
Some positive signal for XRP after sharp decline from 0.967$ zone to set a new low at 0.54$ yesterday. However, a new double bar pattern has shed light on a short corrective for XRP. Generally, price is moving below Ichimoku cloud with a fair volume, and also new lower highs and higher lows indicate that downward still is the main trend, so the expect now is price to climb back to 0.7$ zone (0.382 Fib level), before dwindle lower to 0.43$ zone. Anyway, any increase to above 0.8$ (0.618 Fib level) would be very good buy signal, illustrate that bulls will take control.
Safe trading guys!
Tung Nguyen
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