Possible massive bear movement incoming in Feb on XRP/USD pair.
Updated
Hi everyone, beware of possible massive price movement incoming in Feb on XRP/USD pair. Classic H&S on 1d XRP/BTC pair and inverted H&S + very strong Gann Fan resistance on 3d XRP/USD pair. If lower red lines are crossed then massive bearish movement is expected.
Note
XRP/USD did not play out as expected (mainly because XRP is correlated to BTC which went up from 3k to 13k).XRP/BTC on the other hand did crash hard once it passed key levels.
As of today the XRP/BTC pair has a correlation ratio of 0.8 and looking at the corresponding chart it seems like it could de-correlate any time soon back down to zero. I would trade XRP with cautious.
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.