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Ripple (XRP) Is Once Again In A Do Or Die Situation

Ripple (XRP) is once again in a do or die situation where it has to either break to the upside and exit the downtrend or fall lower to head for another correction against Bitcoin (BTC). So far, XRP/BTC appears to be holding strongly close to the 21 Day EMA and has found support within the bullish pennant it is trading in. However, the price will soon run out of room for sideways movement and will then have to make a move either to the upside or to the downside. The daily trading volume has also declined significantly which means the price can swing either way short term and traders will follow. In other words, market makers would have no trouble setting direction at this point.

As tempting as it is for market makers to lure in some bears before the actual move to the upside, they also realize the repercussions of a strong move to the downside. The majority of investors are expecting further sell-off at this point. If the market makers push the price lower in an attempt to trap…

Read Full Story : Crypto Daily™

2019-02-01 15:30:00

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