Ripple (XRP) Let this coin move up, then short it. Buy and sell.

Ripple will have a developers conference on the 30th this month, creating hype for another pump to 8000 levels.

However, I have been trading the king of hype coins, Tron, for over 5 months and I know that these rallies take place before the event, and after the event price drops very hard.

Therefore, we may set up another low risk short for XRP. You may wonder why I short only for XRP. That is because the risk is much lower if you get a very good entry, and it is very hard to predict the pumps due to it being a bear market.

This coin has been moving up on high momentum, so one last rally may be possible.

Therefore, long now
Long:
7813 (Current price)
I am using 100% of my capital with a very tight stop as this is a no brainer long.

Take profit:
Undetermined. Wait for a topping pattern or consolidation to form.

Short:
8300+
(Ideal entry is 8400, but it the top may happen above or below, so start scaling in.)

Stop Loss:
8700 sats

Alternatively, if we break 8700, that may mean another rally upwards, but that will almost certainly not happen.

Thanks for viewing!

Trade closed: target reached:

Target at 8200 has been hit for 5% profit. Target at 8300 will almost certainly be hit too. On Bitmex we got within 7 satoshis of the 8300 target.

For now do not sell but have a stop loss at the entry price of 7813.

Trade closed: target reached:

8300 hit.

Do not long here. Please. Wait for it to hit our target so we can safely have a short entry.

I am already in a long so I have 0 risk, which is why I am holding my long. Please follow me to catch my quick trades such as my Eth long from 212.8

Trade active:

FOR NOW DO NOT SHORT.

Wait for price to calm. Liquidations are coming in to boost price higher.

Order cancelled:

Will wait for volatility to calm down before selling and entering short. Ripple has broke 8400.

In my opinion, any short entered in this range will be in great profit after 7 days.

Trade active:

After spending some time looking at past fractals, 8900 should be the absolute top if we are going to resume our downtrend. If it isn't we will get a higher high.

Comment:

You may start scaling in an XRP short from 8400 and have a stop above 8900.

Comment:

Add more shorts 8200 and take profit 7600. If we drop below 7600, the rally should have topped.

Comment:

Short is in 3% profit.

Looks good so far.

Comment:

We played that perfectly.

8400 was the top. 8200 was the place to add short after confirmation.

Comment:

First target 7600 level.

Comment:

7600 has been hit.

Comment:

XRP is having another rally, if you are still in a short, have a stop above the high.

Comment:

Over 13% gain on this coin. I will monitor. For now we need to break 8700 but it will be hard. Too much supply in this range.

Even if we do break out higher, this will eventually come down to test 6000 sats unless they bear market ends which is very unlikely.

Comment:

I am expecting something like this before moving down. If XRP breaks new highs, we can rally further, but it won't be very far.