DollarsNSense

Bitcoin in slight profit. Time to shift focus?

KRAKEN:XRPUSD   XRP / U.S. Dollar
The Bitcoin trade that I wrote up last week is ever so slightly in Profit and with the Inverted Head and shoulders now in it's maturity it won't be long before the conclusion of the opportunity starts to play out. Now I'd like to shift focus to Ripple (XRP) I have been long extolled the virtues of XRP by my Brother who has been hammering home the benefits of it for over a year now. For this reason alone I am duty bound to look at it as a potential long trade and consider whether it is a real buying prospect.
I have to say, at this stage I can't quite see it. It has been aggressively sold since April and though I see some weak signs of a hold in this area I would need some decent signs of genuine interest to get me in to a trade. I have marked off a possible short term trade that I will possibly enter speculatively with tight stops to see if it can get through the upper line. I will keep a tentative eye open but am unwilling at to commit at this stage.

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