My plans regarding xrp
Updated
With Bitcoin hitting new ATHs we see some momentum building up in XRP. Last cycle when Bitcoin crossed it's ATH XRP exploded by something around 170%. May not happen so quickly again but the charts are pointing to more upside.
Presenting the chart and a trade idea that displays a position that i'm in already. Got a slightly better entry with over 2 cents in profit at the time of writing it.
I think that the recent drop to 0.5386 could've been the last correction move before a long term breakout to the upside. Even with this entry R/R ratio is at 1:2 so it is a trade that's worth taking from this perspective. Personally I'm hoping for a greater move that will potentially push XRP above the highs from the last cycle.
With violet colour I've marked the price ranges of XRP that I will be using to take advantage of corrections and breakouts in order to secure the best entries and exits as I'm managing this position.
Good Luck
Presenting the chart and a trade idea that displays a position that i'm in already. Got a slightly better entry with over 2 cents in profit at the time of writing it.
I think that the recent drop to 0.5386 could've been the last correction move before a long term breakout to the upside. Even with this entry R/R ratio is at 1:2 so it is a trade that's worth taking from this perspective. Personally I'm hoping for a greater move that will potentially push XRP above the highs from the last cycle.
With violet colour I've marked the price ranges of XRP that I will be using to take advantage of corrections and breakouts in order to secure the best entries and exits as I'm managing this position.
Good Luck
Note
added 20k xrp to the position as we corrected into the violet zoneNote
It's working. As mentioned before we are looking for a move that will be similar to the one where Bitcoin crossed 20k for the first time and XRP followed with a big pump. I think that this kind of breakout takes place nowNote
Good move into the zone above, currently rejected with potential for a bounce at 0.666 (dotted line is on the chart). Locked some profit today as we got into the resistance. Will be adding back if we see the bounce of the mentioned level.Note
Note
Order filled at 0.666 yesterday. Added 10k xrpNote
what happened on Bitcoin was also a great opportunity. Falling back below the previous ATH for a brief moment. May add even more strength to the BTC breaking out so it fits XRP breakout theoryNote
Note
Had not much time to update but I was out of position since we dipped below 0.666 again. Now opened position again at 0.59. Couldn't get entry in the violet zone but closeNote
Also I'm on short on nasdaq where I expect to see a swing to the downside. So it may not be long lasting position but it behaved wellNote
Added more with better entryNote
{img}Still accumulating XRP under the violet zone which I think are fair prices as long as the market is not reversing its direction
Note
Bought more xrp after the dump. Gaps are closed went under violet zone again.Note
Also long bitcoin. Looking for a reversalTrade active
Good time to take some profits in the 3rd zone. 40% closed. If we gonna go higher I'll scale out in the next zone
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