Ripple Trading Opportunity

Let's look at the daily chart of Ripple and try to spot possible price movements. We can see that price reach an important zone formed by the downtrend line and 0.200000 resistance level. It plays as a strong reversal zone. The downtrend line stopped and reversed the upward movement before and it can do the same one more time. But also, if the market can passes through this downtrend line and 0.200000 level, we'll have a good confirmation for the upward movement. It will be a buy signal with stop below 0.130000 support level and profit target at 0.300000 resistance level. Don't forget that a such breakout should be confirmed by a strong bullish candle and MACD. It will be great if ADX line rises above 20 and confirms strong price movement. Other variant of price movement can be based on a price reversal from this zone. In such way we'll see a downward movement to 0.130000 support level. So, we have to watch for price action near this reversal zone and be ready to open long trades based on the breakout signal.