Ripple. The market hero. Technical growth goals have worked out.
So, Ripple has reached the goal, indicated by us in the previous review on it, at 2.45 (maximum $ 2.85)
Trading volumes for 24 hours exceeded $ 10 bln. Only Bitcoin got bigger numbers: $ 14 bln
In terms of capitalization, Ripple also confidently came in second place among the Cryptocurrencies.
Technically, the growth goals have worked out (see our previous review in connection with this idea -
https://www.tradingview.com/chart/XRPBTC/7Cb6nzuU-xrpbtc-ili-kak-zarabotatb-na-dvuh-dvizheniyah-srazu/)
In addition, this wave of growth is the fifth one (according to Elliott) - a vertical one, accompanied by positive news and high demand.
Thus, according to technical analysis, it's time to look for an area to close a long position and fix the profit.
Market movements are now very rapid. And in both directions.
To catch the exact peak you need clairvoyance
However, technical analysis can help.
The conservative approach recommends waiting for the reversal of the trend indicators to sale.
For example, on the daily chart. For more aggressive traders, you can take this signal on a 4-hour graph or even a hourly scale.
Or you can simply place a sell order near the designated maximum at $ 2.83
However, if you morally prepare for a possible deep correction you can continue keeping the long
By the way, about the correction: the goal of a large correction after the fifth wave is in the region of the minimum of the fourth wave and that is at least $ 0.90
Anyway, now we do not recommend jumping into this high-speed train on the go, making purchases
For buying, it is better to use the support levels, and the closest one is $ 1.40 and further the $ 0.90 mark
Active traders can trade in the range, buying on support and selling on resistance (in the moment it's $ 2.83).
We wish you profitable deals!
And follow our reviews!
(chart for this analysis -
https://www.facebook.com/ICEX.CH/photos/a.2118432098183105.1073741825.294213827271617/2206736549352659/?type=3&theater)
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