๐ฅ XRP Overbought: Reversal Trade With Great Potential Reward
XRP has been seeing great price action over the last 2 weeks or so. However, XRP is going up whilst BTC is going down, which puts it at risk of being dragged downwards by Bitcoin.
This trade is based on the idea that Bitcoin will continue to trad bearish, and XRP will eventually follow.
To further strengthen our bearish bias, XRP is both reversing from a historically strong area of resistance and the daily RSI is overbought.
A defensive trader can take partial profits and/or move the stop at 0.44 and 0.4
This trade is based on the idea that Bitcoin will continue to trad bearish, and XRP will eventually follow.
To further strengthen our bearish bias, XRP is both reversing from a historically strong area of resistance and the daily RSI is overbought.
A defensive trader can take partial profits and/or move the stop at 0.44 and 0.4
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