XRP - Intraday - We look to Sell a break of 0.3974 (stop at 0.4081)
We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
A break of the recent low at 0.3980 should result in a further move lower.
A higher correction is expected.
Trend line support is located at 0.4010.
Our profit targets will be 0.3711 and 0.3631
Resistance: 0.4100 / 0.4200 / 0.4400
Support: 0.4000 / 0.3900 / 0.3800
We are trading at overbought extremes.
Bearish divergence can be seen on the 4 hour chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
A break of the recent low at 0.3980 should result in a further move lower.
A higher correction is expected.
Trend line support is located at 0.4010.
Our profit targets will be 0.3711 and 0.3631
Resistance: 0.4100 / 0.4200 / 0.4400
Support: 0.4000 / 0.3900 / 0.3800
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