TheBossTrader

$XRP.X Ripple H&S Fail but possible rebound at 50% Fib

BINANCE:XRPBTC   Ripple / Bitcoin
I posted earlier that Ripple was breaking through the top channel and could at worst test the bottom of the lower channel. Since that action I have taken another look at Ripple to provide an update.

This chart is a little busy but it is mostly to help cover a question a trader had on my previous post. A clear Head and Shoulders was formed and the neckline broken. What should give bulls some confidence is the 50% Fibonacci Retracement that was bought at three consecutive pullbacks near 0.00012191 Satoshis. If I were still in this trade and had a short term view then a stop below the 50% Fib Retrace would be me absolute max pain level.

Good luck
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