XRP Long until $1.96
Since the Bitcoin flash crash from last week, it is no coincidence that the alt coins have followed Bitcoin's trend.
Nonetheless BTC is current stuck in a range between $30-38k whilst its crypto dominance continue to hover sub 50%.
On the flipside the developments in the SEC case vs XRP is a breath of fresh air with various positive outcomes ruling in XRP's favour.
Having looked at the chart from a technical perspective, XRP has retest 2018 highs at $0.60-0.65 and produced the beginning of a V shape recovery.
XRP has also reclaimed the 0.618 Fib and key structural levels at $0.90-$0.92.
Conditions to go long:
Providing price continues to hover and respect the reclaimed $0.90 level, we can enter bid longs with tight stop loss at $0.84 in anticipation that the initial momentum created off the $0.60 retest will continue a move towards the upside.
Nonetheless BTC is current stuck in a range between $30-38k whilst its crypto dominance continue to hover sub 50%.
On the flipside the developments in the SEC case vs XRP is a breath of fresh air with various positive outcomes ruling in XRP's favour.
Having looked at the chart from a technical perspective, XRP has retest 2018 highs at $0.60-0.65 and produced the beginning of a V shape recovery.
XRP has also reclaimed the 0.618 Fib and key structural levels at $0.90-$0.92.
Conditions to go long:
Providing price continues to hover and respect the reclaimed $0.90 level, we can enter bid longs with tight stop loss at $0.84 in anticipation that the initial momentum created off the $0.60 retest will continue a move towards the upside.
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