In the last 24 hours, Ripple (XRP) has dropped from around $ 0.14 to a minimum of $ 48. It is currently back above $ 50. The important question is whether it can recover in the next two days.
Ripple (XRP) is about to recover?
We will try to answer this question in today's Ripple (XRP) technical price analysis, November 9, 2018. When you look at the fall of Ripple (XRP) in the last 24 hours, you'll realize that it earned about $ 0, 4856. He has since come back. Currently, it is trading around $ 0.499. This clearly indicates that it is above $ 50 with a mustache.
However, the levels at which he double-funded are $ 0.4926. As long as it is able to operate above these levels, it can move higher enough easily. It is necessary, however, to keep in mind that, in the event that the double bottom is broken, it risks taking off even the lowest day. At the top, when you look at the goals, they will be around $ 0.511. Subsequent goals can reach $ 0.525. So if you're trading in ripples, it's important to look at the recent from the bottom that was formed around $ 0.4926.
The stoploss can be placed just under the double bottom of $ 0.4926. This stoploss should be strictly followed. It is necessary, however, to bear in mind that it is necessary to use the volume and other indicators such as RSI to validate one's trade. When you are able to do so, the chances of a negative trade are generally reduced to a minimum. This analysis is based exclusively on the technical prices of Ripple (XRP).
If you are looking to trade the ripple (XRP) today, you should also look at these levels before starting a position. Moreover, if Bitcoin losses (BTC) deepen further, Ripple (XRP) could also exchange red. In that case, it is important to keep the tight stoploss we mentioned above. Since in this retracement, Ripple (XRP) was the first to go down, there are chances that Ripple (XRP) will be the first to move higher. This is why it is important to keep these levels in mind in order to exchange the short-term momentum that can be generated.