XRP still bullish long term picture, despite weakness of BTC

XRP has been very volatile lately since that crazy rally. It was dropping earlier this weak because Bitcoin dragged the whole market down again with a failed rally to 6800. I would say for the ones who are still long since the lows around 0.27 from my original post, i would start to think to take some profits here. Bitcoin is still in a big danger zone, unless it breaks the 6800/6850. Above that level, alts will probably start to grow again, but below that level the bears are still in favor! It's just not something we can't deny. Just don't let greed or FOMO take over. You can always buy back again. Trading is not about getting the best price, it's about having things in your favor when being in a position.
For the short term, the 0.55/0.53 seems to be a support level for now. There is still a chance the price will reach the 0.65/0.67 on the short term, but then we would need a move from bitcoin above 6700.
Long term, the 0.7ish level, is a big resistance for the bulls to break.

There is one big bullish sign IMO, that is the high volume during this rally AND that the price broke that 0.45/0.5 resistance zone that easily. The combination of these 2, would normally be a very easy buy for me. But alts don't move independent from Bitcoin unfortunately :(.

Previous analysis:

We did 2 successful trades on XRP in the meantime. Both quite identical as well

Comment:

Anyone has an idea, if this open long/short data of Bitfinex is correct and real time? Otherwise it becomes quite useless.

Because here we can see, that it was NOT a short squeeze. That it was real buying volume. It just seems like the data is not correct. Because the shorts decrease during the drops and increase during the moves up. Of course that can happen, but not this consistently. If anyone knows more or has an opinion about this, please share.
Only the blue zone shows a short squeeze.

Comment:

The daily candle has turned bearish and on the right we can see the first small support level already broke. At the moment it is at that upwards trend line which could work out as a support.
The more important support level around 0.54, if that breaks we could test the 0.45ish level again.

Comment:

So that trend line did it's work as support and it bounced up again, but unless that that high around 0.62 breaks the coming day, we have to assume this will probably be a lower high. Volume is okay but a bit on the low side. But the biggest problem is Bitcoin, it keeps going up and down, not choosing a direction.
I would say, think very good about what you want to do with your position. It's better to have a smaller profit than no profit at all. So figure out what risk your willing to take upfront, so you won't make an emotional decision when the price starts to move.

Comment:

As suspected, it was a lower high because Bitcoin was showing allot of weakness and doubt. So i hope you made a wise decision and took my advice both times now, to take some profit at those highs.
That green support is still holding and could be the low for now. Just means that Bitcoin has to go higher after the drop it just made.