our assumptions:
XRP BTC highly correlated as everyone knows
2017 highs: BTC: 14.000$-19.000$, XRP: 2$-3$
current levels: BTC: 7200$, XRP: 0.19$
losses since 2017 highs: BTC: 50%-70%, XRP: ~90%
our observation:
XRP has a rocksolid support at 0.15$ <=> 0.000025 BTC by now
everytime we shift into being oversold on the RSI and also move towards that support we see a huge uptrend on XRP relative to BTC.
our situation:
we are at that rocksolid support for quite a while now
bitcoins gained 5%-10% just recently
RSI shifted into being oversold
now if bitcoin DOES NOT drop 20-40% like we are used to in mid-january we might see a reversal to the 0.618 or 0.5 Fibonacci-Retracement for XRP (relative to bitcoin).
to support that we also saw quite good news for the company ripple if i remember correctly.
take that with a grain of salt, its crypto.
XRP BTC highly correlated as everyone knows
2017 highs: BTC: 14.000$-19.000$, XRP: 2$-3$
current levels: BTC: 7200$, XRP: 0.19$
losses since 2017 highs: BTC: 50%-70%, XRP: ~90%
our observation:
XRP has a rocksolid support at 0.15$ <=> 0.000025 BTC by now
everytime we shift into being oversold on the RSI and also move towards that support we see a huge uptrend on XRP relative to BTC.
our situation:
we are at that rocksolid support for quite a while now
bitcoins gained 5%-10% just recently
RSI shifted into being oversold
now if bitcoin DOES NOT drop 20-40% like we are used to in mid-january we might see a reversal to the 0.618 or 0.5 Fibonacci-Retracement for XRP (relative to bitcoin).
to support that we also saw quite good news for the company ripple if i remember correctly.
take that with a grain of salt, its crypto.
Not
as for now it looks like we will have to retest the blue trendline
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.