XRP Going down to yearly support
I see 
XRP heading down to its yearly support level of around 24 cents after breaking the weekly support of 31 cents.
It's very much all up to the yearly support line in this extremely bearish market with an average of 35k plus investors shorting the market on bitmex alone (data taken from bitmex exchange). At the moment I am very pessimistic in regards to any long-term bullish behaviour that will lead to the recovery of this bear run. It will be very interesting to see how this plays out, but for day traders you should be ready to long any XRP activity that hits the yearly support as a dead cat bounce/possible market reversal is almost certain at this level.
XRP heading down to its yearly support level of around 24 cents after breaking the weekly support of 31 cents.It's very much all up to the yearly support line in this extremely bearish market with an average of 35k plus investors shorting the market on bitmex alone (data taken from bitmex exchange). At the moment I am very pessimistic in regards to any long-term bullish behaviour that will lead to the recovery of this bear run. It will be very interesting to see how this plays out, but for day traders you should be ready to long any XRP activity that hits the yearly support as a dead cat bounce/possible market reversal is almost certain at this level.
Feragatname
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