Hi all,
As XRP touched the red retracement level, we have to wonder, did we see the bottom, or will BTC drag us down further into oversold territory?
Two things are important to know:
A. BTC is in Bear territory after failing to make higher highs and retracing past 10200.
B. XRP seems to have fully completed its correction pattern from the December high, assuming XRP does not share a Bear Market wityh Bitcoin.
C. XRP as a new technology with an actual use case and many many partnerships has a bright future ahead of it, if it would be in a bear market, it would not be because of fundamentals but because of BTC.
Cbis. However, it is hard to imagine XRP rallying to new highs while BTC is heading to 3000 or lower.
D. If XRP does enter the bear market, we are looking for an additional low beyond 8 February to complete the pattern which might result in 0.35-0.40.
Good luck out there.
As XRP touched the red retracement level, we have to wonder, did we see the bottom, or will BTC drag us down further into oversold territory?
Two things are important to know:
A. BTC is in Bear territory after failing to make higher highs and retracing past 10200.
B. XRP seems to have fully completed its correction pattern from the December high, assuming XRP does not share a Bear Market wityh Bitcoin.
C. XRP as a new technology with an actual use case and many many partnerships has a bright future ahead of it, if it would be in a bear market, it would not be because of fundamentals but because of BTC.
Cbis. However, it is hard to imagine XRP rallying to new highs while BTC is heading to 3000 or lower.
D. If XRP does enter the bear market, we are looking for an additional low beyond 8 February to complete the pattern which might result in 0.35-0.40.
Good luck out there.