quantguy
Long

Ripple Rejects $3

BITSTAMP:XRPUSD   Ripple / Dollar
Ripple has pulled back from the $3 handle but stubbornly maintains footing at $2.80 at the time of this writing. We’ve had a prolific rally, over 1000% since early December, so some retracement is inevitable and investors should consider taking profits. We do have some support from a nested Fibonacci level at $2.53, but face resistance above at a Fibonacci level at $2.87. The upper bound of the KRI             will also provide resistance at $2.84 or so.

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