I mentioned that Ripple tends to become weak when Bitcoin is and vice versa, so we closed our Ripple trades and looked for this "demand zone" to buy back in.
Now we see that Bitcoin completed a wave and is starting to retrace, as Bitcoin becomes weaker, Ripple can become stronger, we are seeing this scenario play out nicely, which gives further strength to the signals we are now getting from the XRPBTC chart.
- The had a strong bounce after hitting oversold.
- High green bar (daily candle needs to close above 0.0000710 or EMA10 for a strong close).
- formation are showing signals of a low.
Note: Remember to use a stop-loss if you open a trade for Ripple based on these signals as things can change any minute. So even though some signals are really good, valid and strong, they can still become invalidated as time goes on.
We also have a long term analysis for Ripple vs Tether ( XRPUSDT ), this can be read below:
This is just a quick analysis and reminder for Ripple fans and traders, this is not a piece of trade advice.
Thanks a lot for reading, remember to hit like now...
This is Alan Masters.
Bitcoin Gold Moves As Expected
BitTorrent A Full Dissapointment
I am concerned about your phrasing "from our buy zone" on this however considering how many times you must have stopped and liquidated in recent weeks on XRP trades (ignore what I'm saying if you don't actually follow your trade calls though!)
Many thanks and god bless.
The 25X SHORT was a great one... Didn't play out though... Still good, Bitcoin breaking to the upside with this much strength is way better than being right on this short.
So I am so really happy that we broke to the upside, more money entered the cryptocurrency market, more future money for all of us.