Lots of wishful thinking going on with Ripple's manic rallies and fairly strong fundamentals (including with me), but there are a couple additional points against an imminent reversal: a hidden bearish divergence on the 4hr RSI, and the strength of recent resistance at the top of the band. Together, this suggests a retest of recent lows at 9k-11k sats, at least in the XRPBTC pairing.
Additional points: XRP is holding at $1.50 at USD while BTC may be poised for a break. In order for the XRPBTC price to maintain during a retrace of BTC up to $20k, XRP would have to make a move up to $3.00 just to hold at ~12k-14k sats. This seems fairly likely, but still would still not constitute a reversal in the pairing. Rather, it could manifest as continued sideways trading within the current .618-.312 fib band for a while, at least until XRPUSD shows signs of a proper run to $5.
I've also drawn what a third bearish impulse wave might look like, but I have trouble believing it would dip that far. (Famous last words?)
First published idea. Had to start somewhere ^^;
Additional points: XRP is holding at $1.50 at USD while BTC may be poised for a break. In order for the XRPBTC price to maintain during a retrace of BTC up to $20k, XRP would have to make a move up to $3.00 just to hold at ~12k-14k sats. This seems fairly likely, but still would still not constitute a reversal in the pairing. Rather, it could manifest as continued sideways trading within the current .618-.312 fib band for a while, at least until XRPUSD shows signs of a proper run to $5.
I've also drawn what a third bearish impulse wave might look like, but I have trouble believing it would dip that far. (Famous last words?)
First published idea. Had to start somewhere ^^;
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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.