XRPBTC trade ideas
BITCOIN Down! RIPPLE Up! This Picture Says it All!Hello everyone, if you like the idea, do not forget to support with a like and follow.
This XRP / BTC => RIPPLE / BITCOIN, shows the two most posted two instruments here on TradingView in the last 48 hours , in action and together!
As you clearly see, XRP/BTC is sitting at its All-Time-Low (almost Zero) so the most probable movement from here is up.
In order for it to move up, we need one of the three scenarios to happen:
1- RIPPLE UP, and BITCOIN DOWN (best case scenario)
2- RIPPLE UP, and BITCOIN UP but with Ripple moving up more aggressively.
3- RIPPLE DOWN, and BITCOIN DOWN but with Bitcoin moving down more aggressively.
What do you think? which scenario is more probable?
XRP - Important to reclaim this levelXRP has lost all of its supports compared to BTC. There is absolutely no support below the current value of 1546 sats. If BTC can reclaim the support of 1546 sats, we can start seeing a move towards 1912 and 2277 as per the weekly charts. These 2 were the previous 2 important support levels and need to be reclaimed for the recovery of XRP compared to BTC. If XRP fails to reclaim the support of 1546 sats, the downside could be catastrophic for XRP.
XRP back in position to 15x BTCXRP is now sitting at under 1100 satoshis, a place it has not found itself in since December of 2017, when BTC was reaching it's ATH. Once again, BTC is establishing a new ATH and XRP is at an ATL against bitcoin. What happened next in 2017 was that in a matter of 4 weeks xrp spiked 15x against btc, from less than 1100 sats to more than 22000 sats.
Now I know that the news of Ripple's legal trouble with the SEC has a lot of us rattled, but I see three reasons not to be. First, even after the news broke and the massive selloff transpired, xrp is still sitting in the .30 cent range against the usd, which is a key area of resistance that it took more than a year to break through. Second, the weekly red candle in Dec 2017 that took xrp down to it's atl against btc was bigger than the current red candle that has taken us to where we are now (the selloff in dec 2017 was bigger than the current selloff). And third, the SEC is just wrong; xrp is not a security, and Ripple will prevail.
With that being said, I'm still bullish on xrp. Let's see where this goes!
XRP Set for a Bull RunXRP looks set for a Bull run.
On a weekly time frame,
Signs of Strength are seen
1) Bullish divergence
2) Large volume at the current weekly candle
What could this mean?
1) Trend Reversal
2) Fractal from 2017 Dec could play out
With the current Fear Uncertainty and Doubt (FUD) in the market on XRP, it is the best time to buy.
As the saying goes
"Be greedy when others are fearful, fearful when others are greedy."
XRP/BTC fractal comparisonIt is kinda eerie how closely we have tracked the previous 2017 fractal before the massive bull run...
Is there such a thing as a White Swan event?
If so, we’ll be seeing it soon in order to keep pace with the previous fractal.
But I’ll be honest, being here right now is very nerve racking...
Wild ride ahead for XRP, here’s to hoping we don’t retest the yearly lows and instead rocket out of here on good news from the SEC