Pivot point: 1.20
The preferred scenario: entering short positions below the 1.20 levels, targeting the 0.8450 and then the 0.6900.
Alternative scenario: Entering long positions above the 1.20 levels, targeting the 1.40 levels.
Commentary: Ripple witnessed a change in the general upward trend, after breaking the ascending price channel, and then taking a semi-accidental direction with weakness in the trading movement, and given the Moving averages (50 - 100), we find that the price is trading below them, with a negative crossover of the averages in a confirmatory sign of more declines in the short term.
