ridethepig
Long

ridethepig | XRP Slingshot !!

BITFINEX:XRPUSD   XRP / U.S. Dollar
What a terrible week for Cryptos. Markets were in the mood to get out of any high beta positions, XRP was no exception. We also had to contend with month-end portfolio rebalances and excess USD demand. The complete retrace towards 0.25 - 0.24 has led to a series of stops and XRPUSD has managed to find a fresh bid. Central Banks are going to provide respite this week, while the virus spreading and awful data from China will control the ebb and flow.


Coordinated policy response is bullish for all cryptos, I am not sure it will provide more than a s/t relief for cryptos as rate cuts do not really help while large workforces are in shutdown! Remember we are trading perception, it is more important than reality. I would recommend buying on this dip, important to note my risk appetite is extremely negative at the moment... remain nimble if we break the channel!

As usual thanks for keeping your support coming with likes, comments, charts and etc!

Comments

what's your take after this ugly-ish retest and rejection of swing lows from under?
Thanks!
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Buy the DIP
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ferGOD ferGOD
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A nice and clean chart @ferGOD ...no questions we are sitting at the bottom in the range and while the liquidity punch bowl gets refilled this is only going in one direction.
+1 Reply
end of Marc sounds about right... we will see when we get there... 😑
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ridethepig SleepyGuy
@SleepyGuy, indeed a Q1 close above 30c would be telling
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