Bitstamp: #XRP Midterm #Trend Trade: 6H persepctive

#XRP is more likely to keep #down #trending in correlation with #bitcoin. #RSI within a decsending #channel. There is likely a pullback along the way which would make RSI reach around 40 to 50 level. However, in the 4H & 6H frames, it is more likely for further #bearish move starting by breakout of $0.560. The Moving Average supports the descending. Additionally, #NR in 12H and #daily frames gives a clearer #exit #signal for midterm traders when breakout of $0.550 level accompanied with RSI up-swing failure. Note that XRP is still in high correlation with BTC movement. XRP will likely follow BTC if breakout of $6500 (+/- 200)

Kommentar:

XRP