Taking a quick look at the XRPUSD market today.
The Ripple market is looking weak, with the bulls also staying shy of the market, confirmed by the low trading volume.
We have 2 sell signals on the 1 hour chart and I would advise caution to most speculators that are long short term.
The first sell signal is the cross of the 20 MA and 50 MA, which is followed by the bullish trend breaking. (Trend line breaking)
The bearish action is confirmed for me by the Demand Index and other indicators.
I am short on the short term for ripple and sitting on the sidelines for the longer term.
I might consider going long and playing the bounce should prices dip below $1 again.
Feel free to discuss this trade idea with us.