Long

XRP jack the ripper alive

Updated

Right now what we are witnessing is all the new money that has come into crypto this year not wanting to exit and consolidate in all the top 10 alts which provide the liquidity for it. XRP is the last one left that has entered an amazing accumulation zone and we are beginning to see volume step in. Bitcoin was necessary to correct however the new money coming in doesn’t want to leave Crypto; it would be completely counterproductive to our progression. The lower alts aren’t liquid enough for multiple million dollar positions to flee to, so the only play people have are the Alts over 1 billion market cap. With all its major established banking relationships as well as huge volume and market cap, Ripple is an amazing choice for large capital speculators. If you have not bought in the ideal buyzone, next option once again would be to support the 0.5-0.618 of this move. With a weekly cross and all hightime stochrsi showing momentum stepping in, I would expect this one to be next.

Note

Also note throughout Bitcoins run, XRP has been defending the 0.20 cents zone aggressively.

Papou

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.