SUMMARY: Accumulation phase for XRP, opportunity to stack some XRP
-- Technical -- A sharp retracement driven by the BTC sell off/crash. We see a very high correlation between BTC and XRP price.
We are in a tight trading range of 0.85-$1.10.
The oscillators show weakness in price and we may see a retest of the 50 EMA before a key reversal.
-- Fundamentals -- Price remains depress as the ongoing SEC is holding back the top US exchanges, e.g. Coinbase, from listing XRP. At lower prices we could still see 2-4x upside, under the scenario of a pro-longed SEC case.
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*Not financial advice and is for educational purposes only. Always DYOR.
SO: What do you think, have I got it right? Let me know below.