XRP Long - Big picture retracement
Updated
If XRP beats the SEC case, a retrace towards the ATHs are likely imho. This is not financial advice and is for educational purposes only.
XRP has been very fractal and someone has been accumulating using BTC on Bitstamp consistently since 2019 and since the SEC case dropped price back into that accumulation zone.
XRP may be setting up to reach new ATHs before BTC/USD begins a bearish correction cycle. If BTC/USD turns downwards below 50k first, this may cause a breakdown of market structure across many charts.
Medium Picture:
Big Picture if we break the last swing high before the SEC case:
XRP has been very fractal and someone has been accumulating using BTC on Bitstamp consistently since 2019 and since the SEC case dropped price back into that accumulation zone.
XRP may be setting up to reach new ATHs before BTC/USD begins a bearish correction cycle. If BTC/USD turns downwards below 50k first, this may cause a breakdown of market structure across many charts.
Medium Picture:
Big Picture if we break the last swing high before the SEC case:
Trade active
We're moving along nicely. Triangle forming here, if we can hold it we should head to the 2550 area to start testing it.Trade active
This worked perfectly. If it continues to develop anyone that is in from below should have no trouble getting their initial capital out to ride the possible move back to the ATHs risk free. This is not financial advice.Note
They did it a little differently that I imagined, but still on track :)Trade active
Still on track! BTC/USD is freaking traders out of positions, but the /BTC side here is showing resistance to that move by XRP. Still holding this trade strong.
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