Liquidation event has happened.Price dropped 54-57 %,touched 0.41 cents,but on futures,not on spot.What now? I don't think this is the bottom(but it could be).
Price has stabilized in the last weeks.
Low's liquidity has been taken.Now they need to find liquidity to the topside.Will it be enought with this 30 % move to 0.55$ ?
Currently we are in a range,where you look only for longs,but not right now,we need to regain something first. Don't blindly enter in a position,there's no trade atm.
Keep in mind every retail trader wants to short now,be careful where you short. Most obvious stoploss levels are 0.55 and 0.66 $(weekly candle).
I would love if we go to 0.70-0.78 $,rekt all late shorters and then mega dump.Monthly close will be very interesting.
XRP.D ticker (XRP dominance) is not looking that bad at the moment.
I expect September and/or October to be shorts reaccumulation with potential selloff in November/December/January.
If we close above 0.66 weekly level and HOLD 0.62 we are good for going higher,but we need to pump fast to 1.13-1.23,otherwise i don't see this being trend shift move.