As expected, XRP is coming down in price and I believe will ultimately align with the long standing support established in 2017 leading up to the boom in December. We're aligning with that price on 8/4 provided we stick with the current bearish trend, which I believe is the perfect buy set up, and lowest low we'll ever see for XRP moving forward. Based on my expectations for the price of the upcoming boom, this means a 430/1 risk to reward ratio. Whew.
Let me know what you think!
Let me know what you think!
Note
I find it interesting that the current intra-bar bearish trend (the red line pictured) points to the collision of the lines I highlighted. Perhaps more evidence that this is the target for some bears.
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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.