XRP/USDT - so what happens next?
Hello, Traders!
The market reacted with the panic sell of XRP amid negative news about the SEC investigation into Ripple.
The price momentarily reached $0.211 as a result of the execution of buyers' stop orders.
At the moment, the market pressure on the asset is decreasing.
We should not count on a v-shaped reversal. It takes a lot of time for consolidation, only after which growth is possible.
The nearest levels of correction by Fibonacci are 0.382 ($ 0.3534) and 0.50 ($ 0.3979).
In case if the negative flow has only a speculative character, the nearest strong resistance will be the level of $0.44 where the sellers' area of interest is.
Watch out for the market and don't forget to place SL's.
Merry Christmas to all of you!
The market reacted with the panic sell of XRP amid negative news about the SEC investigation into Ripple.
The price momentarily reached $0.211 as a result of the execution of buyers' stop orders.
At the moment, the market pressure on the asset is decreasing.
We should not count on a v-shaped reversal. It takes a lot of time for consolidation, only after which growth is possible.
The nearest levels of correction by Fibonacci are 0.382 ($ 0.3534) and 0.50 ($ 0.3979).
In case if the negative flow has only a speculative character, the nearest strong resistance will be the level of $0.44 where the sellers' area of interest is.
Watch out for the market and don't forget to place SL's.
Merry Christmas to all of you!
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