Hi, Traders ! **Monfex** is on the air !

**Ripple resides in an attractive position for the initiation of a Long trade.**


\* Ripple has approached the edge of the H4 contracting triangle pattern and currently the price of XRP is right on its ascending (support) trend-line.

\* Last week, XRP had made a daring endeavour to break-out, but struggled to gain momentum above $0.3150. After that, the price retreated noticeably to where it stands now = $0.2740.

\* There is the key bearish area between $0.30 and $0.32, that is well protected and securely held by the Bears. If the Bulls manage to step outside of that area, the new horizons will open up.

\* On the underside, the key Support area between $0.2150 and $0.25 is fully protected by the Bulls.

\* Overall, we think that going Long from the current levels could be a good call since a tight stop-loss can be set, and even if the price breaks down, it would clearly follow towards $0.25 level.

**Active trade signal**

Buy @ $0.2750.
Nearest Target: $0.30 – $0.32.
Stop-loss: $0.2690.


*This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.*

➔ Visit Binance now and start trading