XRP has been moving inverse to Bitcoin recently. Bitcoin pumps, XRP dumps, and the other way around. For the time being, this remains to be true.
I highlighted two possible outcomes here, bearish in red, bullish in green. I think support is pretty strong here at this level, and the nature of XRP may indicate a pump out of nowhere like the previous. Would target the red box (at resistance) for a long position, but momentum has been slowing on some altcoins with Bitcoin showing some weakness.
r/r for a long position off the support area that XRP is currently trading through is not bad with a stop shortly underneath the blue box, especially if BTC dumps due to the fact that XRP and BTC have been inverse recently.
I highlighted two possible outcomes here, bearish in red, bullish in green. I think support is pretty strong here at this level, and the nature of XRP may indicate a pump out of nowhere like the previous. Would target the red box (at resistance) for a long position, but momentum has been slowing on some altcoins with Bitcoin showing some weakness.
r/r for a long position off the support area that XRP is currently trading through is not bad with a stop shortly underneath the blue box, especially if BTC dumps due to the fact that XRP and BTC have been inverse recently.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.