ridethepig
Long

ridethepig | XRP Market Commentary 2019.13.12

BITFINEX:XRPUSD   XRP / U.S. Dollar
After a week of very narrow range trading in XRP, we close the week with support holding and demand starting to show up. What will matter the most for XRP for the remainder of this year and into the first quarter will be how BTC developments play out. My view is that a reflationary theme via USD devaluation will carry the flows for 1H20, and if this view gains traction in the macro community as people look ahead into 2020, we could even see it begin to spillover with momentum in major Cryptos. For now I am marginally constructive and look to buy dips and a breakout towards 0.295x.

For those leaning on the long term BTC chart:


Thanks for keeping the support coming with likes and as usual the comments are open for your questions, charts and etc.
Comment: Still no fills here, will see how it plays out in the next few sessions before considering reopening the call with a new entry level.
Order cancelled: We broke down before we could get filled... I'll reopen the position and idea at the close today.

Comments

If BTC go down i think XRP will follow :
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ridethepig ComeTcrypto
Agree we are at the mercy of BTC here @ComeTcrypto ...if we do not get filled by Tuesday next week we can reopen the call.
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