Meanwhile, if this was something more than a mere technical bounce triggered by whale buying, the price could head to the 200-day exponential moving average (EMA), which currently sits at $1.50. This means an upside potential of 33% in the near term.
As for the downside risk, we maintain our bearish target of $0.80 if XRP rejects this move above $1.13 at some point.
We see a short position as the most favorable trade right now if the price drops below $1.13, as the risk-reward ratio for that trade would be quite high if the stop price is set above that mark and the target at $0.80.
Source: Original Article
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