Ripple (XRP) has been on our watch list for a buying opportunity. The recent drop has ended on a crucial zone setting up an inverse head and shoulders formation. We can also see a bullish 5 wave rally, followed by an ABC correction. If you are a more cautious investor you can use the 1.1620 resistance as an entry point.
XRP – 4 Hour Chart
Trade Setup: BUY market execution, current price 1.0407, stop loss 0.8716 and take profit 1.600
With any crypto trades I use a crypto exchange rather than an MT4/MT5 provider as the market will remain open during the weekends. If you are trading with Focus or Fusion they close the crypto market during the weekend which can be a risk to your position as you will not be able to close down if needed.
A safer way to take part in this trade would be to buy the asset outright rather than trade with leverage, I have done both.