Long

XRP - Looks good to the upside despite the market conditions

Updated

XRP doing it's thing, not caring at all about bitcoins fall or the bearish sentiment of the crypto market.

And it's paying off !

XRP rallied before anyone else from 25cents to more than 70, in a 5 waves move and correcting in 3 waves, which is indicative of coming moves to the upside.

Once the correction ends, we might see price go higher fast.
If it goes above 85cents, we might see it go to 1.50 dollars also.

A good buying zone is 33-38cents.
Stop : 25cents
Target : sky is the limit

Trade active

Entry 1 : .3850
Entry 2 : .3313
- > Stop moved to 3313 for both entries.

Note

Note

Target 1 : 0.7500.

Note

Target 2 : 0.9800

Line chart is even clearer

Note

Trade Setup :

* Entry : 33 to 38cents
* Stop : 25 cents
* Target 1 : 75cents
* Target 2: 98cents

Trade closed manually

Closing my long positions, don't like this last move.
Price might make a new low below 33cents.

Results : 2cents lost for first entry & 3 cents won on second entry

Note

It was a good call to stop all open positions, price went below 33cents.
For the bullish view to remain intact, price needs to hold above 0.2521.

And if this is an ending diagonal, price needs to turn before ~32.00

ElliottWaveBelgium

Don't forget to like, share and follow !

Questions? Chat or Comment on Ideas
Don't forget my public Telegram channel -
t.me/em16public

Thanks !

Also on:

Related publications

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.