Trade Recommendation: Ripple

This is a short term trade based on a bullish divergence. The price can bounce from the support zone formed by 1.00 and 0.85 support levels. RSI confirms price reversal. MACD lines support the possible upward movement. DMI shows that the bears are not so strong now and we can open long trades. The entry level is above the downtrend line and SMA20. If the price breaks this zone, we’ll open long trades using this breakout. Entry level is 1.12 with stop 0.93 level. Profit targets are 1.35 and 1.50 levels. Please, note, the markets are not stable now, using stop-loss orders is strongly recommended. If you don’t use leverage, trading volume for this trade is up to 5% from your deposit.

Market: XRPUSDT
Buy: 1.12
Stop: 0.93
Profit Targets: 1.35 and 1.50

The trading signal is based on Poloniex chart.
Disclaimer: The analyst does not have investments in Ripple.

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Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.