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 ^^;
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.