The past two trades on XRP have netted 13% and 5% profit. If you wish for private charts all you have to do is message me.
XRP currently has broken beneath long time support and is trading beneath it. In theory, XRP should have trouble staying above 8140 and should not move above 9400 at all.
I do expect a pump if BTC pumps, but I do not believe that will lead to another rally. Even if we do get another rally, I remain bearish on XRP.
This trade will be invalidated if we move above 9400. I expect that to happen when BTC breaks 7000.
You may enter shorts following the short entries I have posted on the charts. It is very hard to put a reasonable stop loss. I will do a manual stop and an automatic stop above 9400.
Right now there is no clear direction on BTC but I still am leaning towards bullish on BTC. Even though I am bullish on BTC, I am bearish on XRP. Even if XRP pumps it will still decline as it always has unless BTC can start a new bull rally which is very unlikely.
Thanks for viewing!
In case you disagree, I have put a reasonable long setup. You may consider following it.
Comment
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Trade doing well. We have got break down as I believed.
Trade closed: target reached
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New chart updated.
You can hold your short as I am doing but I do believe we will hold or bounce here.