ChristiaanvanderMerwe

XRP USD Potential 5th Wave

Short
A lot of people are calling for a bottom of this bearish downtrend and sentiment is turning bullish (perhaps prematurely). We have had a solid bounce the past week and BTC Longs have continued to climb whilst shorts/long gap has been growing. I see XRP following a similar to pattern to it's previous dumps and 4hr MACD has crossed bearish. I am currently in no position. When in doubt stay out. If this is the end of the bear market there will be plenty of opportunities ahead. However I am not yet convinced, may change my mind depending on what BTC does in the next few 4HR candles. Range has been tightening and a big move is coming, unsure of the direction just yet however I am leaning bearish. This bias may be my undoing however a trader must protect their capital and this is why I will keep my funds for another day. Previous all time high is ~$0.40 to ~$0.38 depending on which exchange you look at, I am looking for entries around this area.

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