As you can see we have just experienced a move from 0.007 to 0.075 within just 11 days which is around a 1000% increase in price.
Currently, price is trading in between the 0.618 and levels, if we see a break of the 0.786 we may see a drop to 0.023 before find support again, thus providing an excellent opportunity to buy!
Now taking a look at the below, rippled has failed to consistently close above 0.012 although creating an all time high around 0.1 during February 2016. This month we have closed at 0.07 which is 5x the norm.
In addition, the market is through the roof as of March 2017, like many other cryptocurrencies.
The main purpose of this post is to highlight the key price structure within the market, refer to this chart whether you're going long or short.
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My long term outlook is bullish, it will moon within the next month but for now I see a short term decline.
Pay close attention to these levels when buying.