Trade Recommendation: Ripple


XRPUSDT may be about to pop. With the support of the Weekly Pivot Range the price is holding nicely at the current levels. A steady uptrend over the last 48 hours provides for a good setup for the long side.

The Daily Pivot Moving Averages are crossing over and pointing upward, another indication of long bias. Finally, with the Daily Pivot Range, 3 Day and 6 Day Rolling Pivot Ranges, acting as support underneath the Weekly Pivot Range, this has all the markings of a good move to the upside.

The action to take is to buy in the “Buy Zone” area and place your stop loss below all the Pivots, at the 6 Day RPR low. This is a good risk reward ratio trade.

Entry Price: 0.8715000
Stop Loss: 0.8140000
Profit Targets: First profit target 0.9528000. Second profit target 1.1500000. Once price hits first profit target raise the stop loss to breakeven and if price follows through to higher levels, trail the stop loss .0400000 points behind until second profit target is reached or stopped out.

Disclaimer: The writer owns Ripple, Litecoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

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