The pair has reached the previous top from Dec 30 and is showing
some signs of weakness or exhaustion. Ether is looking strong on
other pairs too right now, so it is more Eth strength than Ripple
weakness one has to conclude. Price is in an uptrend and has been nicely
supportedby the Cloud all the way since Dec 13. The new Yearly pivot point
was traded on Jan 2 and gave good support, so overall price is
looking higher and from a pivot perspective the next target stands
at 0,004248 and the Yearly R1. If price retracts further from the
current level, support is at 0,002823 (the lower red line). If
you are buying Ripple with Ether right now, know that you are buying
at resistance.
some signs of weakness or exhaustion. Ether is looking strong on
other pairs too right now, so it is more Eth strength than Ripple
weakness one has to conclude. Price is in an uptrend and has been nicely
supportedby the Cloud all the way since Dec 13. The new Yearly pivot point
was traded on Jan 2 and gave good support, so overall price is
looking higher and from a pivot perspective the next target stands
at 0,004248 and the Yearly R1. If price retracts further from the
current level, support is at 0,002823 (the lower red line). If
you are buying Ripple with Ether right now, know that you are buying
at resistance.