XRPUSD Price and Volume are too good to ignore
I'm not normally a fan of XRPUSD as it does fit into a different category of cryptography in the decentralisation revolution that is happening but...the price of XRP is so low and the technology is working.
As shown on the charts I will be looking at DCAing in the shown triangles as I see a pennant forming. Once we break to the upside of the pennant I will be keeping my eye on the $0.5 level and looking to put a leveraged trade when we smash through this level which has been a historical point of resistance and support.
Also, looking at the volume in the last few months it has been going through the roof so there are a lot of people speculating with bears matching bulls at this level...all we need is a bit of news to sway it one way or another.
I won't go through the risks of XRP as you can google them easily but I will list them off that you need to be aware of that could tank the project.
MY XRP PLAN NOW:
DCA with 10% of introduced funds into XRP at the levels stated on chart
HODL
XRP PLAN @ $0.50:
Might look at a leverage trade when above $0.50 but will focus on mainly BTC and ETH for this and will only do it have spare trading amount to trade.
From previous bull-run XRP was late to the party so there is a chance this may happen again. We will have to wait and see.
Maintain or gain
As shown on the charts I will be looking at DCAing in the shown triangles as I see a pennant forming. Once we break to the upside of the pennant I will be keeping my eye on the $0.5 level and looking to put a leveraged trade when we smash through this level which has been a historical point of resistance and support.
Also, looking at the volume in the last few months it has been going through the roof so there are a lot of people speculating with bears matching bulls at this level...all we need is a bit of news to sway it one way or another.
I won't go through the risks of XRP as you can google them easily but I will list them off that you need to be aware of that could tank the project.
- Countries releasing their own CBDC that is just as cheap and fast as XRP
- The concentration of pre-mined coins held by Ripple and they can control supply to a degree for now
- Why a co-founder Jeb McCaleb really sold 54 million XRP?
- SEC issues deeming XRP potentially a security and class-action lawsuit(s)
MY XRP PLAN NOW:
DCA with 10% of introduced funds into XRP at the levels stated on chart
HODL
XRP PLAN @ $0.50:
Might look at a leverage trade when above $0.50 but will focus on mainly BTC and ETH for this and will only do it have spare trading amount to trade.
From previous bull-run XRP was late to the party so there is a chance this may happen again. We will have to wait and see.
Maintain or gain
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.