XRPUSD Range Bound

6 ต.ค. 2017

XRP has been range bound a for quite some time. A recommendation on trading positions would be ill-advised at the moment but based on our symmetrical triangle, its evident that a break above the %50 retracement level would signal a bullish move. Buy orders trigger after a day or two close above the 50% mark. A fake-out may ensue after interest is overtaken by profit takers but this remains to be seen. An increase in buyer volume will push and break past the 50% mark to find potential resistance at 0.618.



The current sentiment would be that the resistance level has been met and a breakdown will ensue to revisit the 0.382 retracement level at $0.191 or the support level at $0.13.