XRP Bullish Reversal Opportunity: DCA into the DipCould we see XRP back near $0.60 lows?
The recent developments in the XRP ecosystem, including Ripple's acquisition of Hidden Road, have set the stage for a potential bullish reversal. As we've dipped into the monthly bullish fair value gap (FVG), I'm eyeing a rebalancing opportunity to $0.60, where price may seek to refill sell-side liquidity and shake out weak hands.
As a developing trader, my strategy is to buy the dips and hold onto this asset. Although I initially considered purchasing more at $1.90, I've decided to allocate a portion of my crypto savings wallet to USD, waiting for a more favorable entry point. I'm targeting key levels below $1.50, $1, $0.80, and even $0.60 to split my funds and accumulate more XRP.
This dollar-cost averaging (DCA) approach allows me to capitalize on potential price inefficiencies while minimizing risk. With the current market dynamics and XRP's recent news, I believe we're setting up for a bullish scenario. By DCA'ing into the asset as it dips, I'm positioning myself for potential long-term gains.
Key Levels:
Initial allocation: $1.90 (missed opportunity)
Target allocation levels: $1.50, $1, $0.80, $0.60
Bullish target: Rebalancing to $0.60, followed by potential upside
Thesis:
Ripple's acquisition of Hidden Road signals increased adoption and use cases for XRP
Monthly bullish FVG presents a rebalancing opportunity
DCA'ing into the asset as it dips minimizes risk and maximizes potential returns
This trade idea is based on my analysis and market observations. I'm sharing my thought process to spark discussion and encourage others to share their insights. As always this is not financial advice! Do your own Research!
