For a couple of days now, ripple has been finding difficult to trade above $1. The $1 price of ripple is a key supply zone that needs to be broken for ripple to witness the next bull run to $1.50.
Price rejection at near $1 has occurred severally and there is every likelihood for ripple to witness a strong pull back to $0.6 soon.
At $0.6 we have the strong demand zone for ripples. So I expect ripple to a pull back to $0.6 soon for the next bull run to commence.
Personally, I will advise you should look forward to buying ripple at $0.6 .
If today’s candle bearishly engulfs the last four days daily timeframe candles of ripple, then expect ripple to find support at $0.6.
If on the other hand, there’s a bullish engulfing candlestick above the high of last week, ripples could experience a strong bullish breakout above $1 soon to find its first resistance at $1.50.
In order for this happen, there has to be a strong increase in daily volume and demand of ripples.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of ZyCrypto.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.