Cryptocurrency
by Seth Parker on September 18, 2018

Ripple Analysis – What a rise!

Tuesday starts with the analysis of the Ripple, which was previously mentioned slightly more than a month ago. Precisely on the 15th of August, when the price was getting ready for a bullish reversal. We acknowledged that in our last analysis:

“This kind of a structure shows us, that lower levels got rejected and buyers finally found this asset attractive. Today, the rise is continued, which may be an invitation for a larger reversal. The current target for this upswing is the resistance on the 0.43 USD (blue). Short-term positive sentiment will be denied, once the price will break the yesterday’s lows. „

ripple chart

That was a great call! Next few days, after those words were written were bullish and the price went significantly higher. We almost reached the 0.43 USD resistance mentioned above. That is probably still to come as currently, the price is over 20% higher and it looks like terrible days for the XRP are over. Currently, we do have high chances for a double bottom formation and a bullish reversal scenario. This positive sentiment will be denied when the price will touch today’s lows, which currently is less likely to happen.

By Seth Parker

Seth is a professional trader with over 10 years of experience. He specializes in the technical analysis. His main focus is on the pure Price Action. In his trading, Seth used the trends, supports and resistances and technical formations. Always, the most important thing in his strategy is the money management. Seth reached a proficiency in trading and for the past three years is doing that for a living enjoying the sun and lovely beaches of the Spanish coast.

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