XRP double bottom playing out!
We have come to the point on the daily chart where we have formed this double bottom, But based on the BTC chart there is a likelihood that XRP could fall slightly below this level and bounce off the downward trend support seen on the chart as the white lines. Regardless this market structure is seen as a double bottom.
BTCs continuous retracement could result in alts either falling or consolidating at key levels of support and I feel this level XRP is currently at is a big contender for a consolidation phase to be formed around ,whether it be slightly above or below this level. There is also a probability that XRP can move according to the technicals which are technically bullish and move to the upside as a result of the double bottom, But time will tell as the markets are very edgy at the moment as there is a lot of fundamental fud which overclouds the good fundamentals.
All I can say is we are living through an awesome buying opportunity and I feel for those who fomo'ed out of the market and didn't buy this low price. This is not financial advice though as I have discussed before, and i shall not be liable to any upsets if my perspectives do not play out as predicted if you place a trade based on my ideas solely.
What do you think about XRP and if you are invested in it for the long term, why is that so? leave a comment below, would love to hear different perspectives.
thank you for your time.
BTCs continuous retracement could result in alts either falling or consolidating at key levels of support and I feel this level XRP is currently at is a big contender for a consolidation phase to be formed around ,whether it be slightly above or below this level. There is also a probability that XRP can move according to the technicals which are technically bullish and move to the upside as a result of the double bottom, But time will tell as the markets are very edgy at the moment as there is a lot of fundamental fud which overclouds the good fundamentals.
All I can say is we are living through an awesome buying opportunity and I feel for those who fomo'ed out of the market and didn't buy this low price. This is not financial advice though as I have discussed before, and i shall not be liable to any upsets if my perspectives do not play out as predicted if you place a trade based on my ideas solely.
What do you think about XRP and if you are invested in it for the long term, why is that so? leave a comment below, would love to hear different perspectives.
thank you for your time.
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.