Technical crypto analysis based on breakout – we’re in sellers territory

XRP –

we're in sellers territory

Technical Observation

XRP is currently trading with an increasing bearish bias. So far, Ripple has successful gone below the three Simple Moving Averages 14, 52, 152. And as I said earlier, while the price is contained below these SMAs, then I expect a momentum to the lower side. I’m waiting for a clear break below $0.5500 to culminate into a possible bearish momentum towards $0.4100. As it is on the daily charts, only short positions can be recommended, however, should the price break above $0.8532, then this will be a good place to buy ripple towards $1.1568.

Trade Signal.

Only buy XRP above $0.8532

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