I shorted XRP around 53 cents, expecting it to fall to around 43 to 45 cents and maybe even 35 cents for a more bearish scenario. XRP reached close to 46 cents, not reaching my target. I decided to take a look at the XRP/BTC chart to see if I can find any reason to still hold, or when I should get out. From the looks of it, it's too early to say, but there's a decent chance it may not reach my 43 to 45 cent target. Bitcoin looks like it has hit the low of 7100 satoshi with 3 touches holding it as a strong support. XRP also broke out of the lowering trend line and bounced off (not convincingly). MacD is looking bullish, and the RSI has a bullish divergence. These are 4 strong reasons why XRP might not reach my initial targets. Currently, XRP is still running below the 20 SMA line on the 4 hour chart. This has been a strong resistance for XRP. I expect XRP to have that convincing break to bring the buyers in once it breaks the 20 SMA. Until that happens, I am holding my short.
