InvestingScope

Support holding. Triangle emerging?

BITFINEX:XRPUSD   Ripple
XRPUSD has kept the 0.2500 1D support intact (STOCH = 54.926, STOCHRSI = 76.422, Highs/Lows = 0.000) and continued with sideways consolidation that is about to break the 1W Channel Down (MACD = -0.107, Highs/Lows = -0.0828, B/BP = -0.2150) to the upside. This may create a Triangle on 1D that has the potential to keep the price ranged for the next month. However the Lower High Resisting line (bold black) will continue exerting selling pressure and shorting should be the optimal long term trading choice. We remain short on Ripple: TP = 0.24321 (December 12, 2017 low) and TP = 0.19914 (December 08, 2017 low).

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