RIPPLE ($XRP): It's a Long Way Down if You Wanna Buy the Dip.
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We got a request to help find buy zones for a long term XRP position, so let's discard the short term strategies and focus on some key long term levels. --- Ripple has been printing and selling XRP for a while now. While there have been a few cryptos in history where price has gone up and never come back down, that doesn't mean every crypto is just going to be able to ignore TA. Likewise, at some point hitting the "brr" button on the XRP money printer has a chance of coming back to bite Ripple. We aren't saying XRP is going to revert to pre-2017 levels, but we do see the possibility in terms for FA and the chart, so here is the plan we are going to be watching.
Resource: theblockcrypto.com/post/64504/ripple-co-founder-jed-mccaleb-has-sold-over-175-million-worth-of-xrp-since-early-2016 + coinjournal.net/ripple-to-reduce-its-sales-of-xrp-as-prices-rise/
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1. There are really only two zones in which to look for XRP buys if the range formed between late 2017 and today can't hold.
- First, we have the range between .03 and .05.
- Second, we have the range formed before the move up in 2017 between .005 and .007.
2. The idea here is simple, place resting buy orders at key levels in those ranges, spending more as we go lower, to get an average position that will be profitable if we retest higher levels regardless of which level we drop to.
3. Our logic is that while XRP would be rather REEEKT if the bottom fell out like that, such a momentous move would likely create the volatility needed to make any tactical averaging profitable.
Good luck and let us know what you think about our approach here traders!
Like, Comment & Follow to help the community grow 🎉🎉
---
We got a request to help find buy zones for a long term XRP position, so let's discard the short term strategies and focus on some key long term levels. --- Ripple has been printing and selling XRP for a while now. While there have been a few cryptos in history where price has gone up and never come back down, that doesn't mean every crypto is just going to be able to ignore TA. Likewise, at some point hitting the "brr" button on the XRP money printer has a chance of coming back to bite Ripple. We aren't saying XRP is going to revert to pre-2017 levels, but we do see the possibility in terms for FA and the chart, so here is the plan we are going to be watching.
Resource: theblockcrypto.com/post/64504/ripple-co-founder-jed-mccaleb-has-sold-over-175-million-worth-of-xrp-since-early-2016 + coinjournal.net/ripple-to-reduce-its-sales-of-xrp-as-prices-rise/
---
1. There are really only two zones in which to look for XRP buys if the range formed between late 2017 and today can't hold.
- First, we have the range between .03 and .05.
- Second, we have the range formed before the move up in 2017 between .005 and .007.
2. The idea here is simple, place resting buy orders at key levels in those ranges, spending more as we go lower, to get an average position that will be profitable if we retest higher levels regardless of which level we drop to.
3. Our logic is that while XRP would be rather REEEKT if the bottom fell out like that, such a momentous move would likely create the volatility needed to make any tactical averaging profitable.
Good luck and let us know what you think about our approach here traders!
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