Allenvik
Long

Long XRP for double gain

BINANCE:XRPUSD   XRP / U.S. Dollar
The main condition for the trade is that BTC price action will go sideways or bullish for 1-4 weeks, that could ignite XRP towards a breakout mode.
This is a Long trade on XRP for a up move towards a 38.2% FIB based on its last ATH , 100% gain is possible if target is reached.
Entry $0.87 target $1.6ish
Play-out time 2-4 weeks
The volume profile shows a low interest area on target, maybe volume to reach the target area can be a problem, that needs to be analyzed.
Position will be monitored and reassessed as it goes.
XRP needs to go over at least 3 strong resistance levels, $1, $1.2 and $1.45
The stop loss or holding loss is around 10%, give or take, that will be reassessed if BTC goes for a retracement lower.
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