If you were using margin or hold a leveraged position and got liquidated you will not like what I am about to write but what is happening now is actually good for this market.
On a different note, if you are doing margin/leverage, then you are fully aware of the risk and know that the market can produce sudden and strong moves at all times, specially like what we just saw. This type of move shakes out everything up and opens the door for additional growth.
✔️ Join me and let's read together Ripple's XRP (XRPUSD) daily chart.
The bottom low for this pair happened June 2022, without a shadow of doubt we have higher lows which is the most important indication for a sustained bullish bias. This market/pair/altcoin is bullish technically speaking based on this signal alone.
The RSI hit a new low yesterday, it is the lowest since May 2022. Only in May 2022 did the RSI hit a lower reading than yesterday yet XRPUSD is priced much higher compared to early 2023. Just pointing out another bullish signal in a convoluted way.
Let's rewind, let's look at it differently.
Since the start of 2023, XRPUSD has been producing higher highs and higher lows. It is normal to see retraces and corrections but the trend, the bias will always remain the same as long as this hh/hl pattern doesn't break.
Long story short; We can expect XRPUSD to continue growing.
Thank you for reading.
Namaste.
P.S. Invalidation can happen but this would take a nuclear bomb going off. If this happens, XRPUSD will be the least of our worries. If there is a major stock market crash, Crypto will detach because people are tired of the old market and would like to try the new one.
On a different note, if you are doing margin/leverage, then you are fully aware of the risk and know that the market can produce sudden and strong moves at all times, specially like what we just saw. This type of move shakes out everything up and opens the door for additional growth.
✔️ Join me and let's read together Ripple's XRP (XRPUSD) daily chart.
The bottom low for this pair happened June 2022, without a shadow of doubt we have higher lows which is the most important indication for a sustained bullish bias. This market/pair/altcoin is bullish technically speaking based on this signal alone.
The RSI hit a new low yesterday, it is the lowest since May 2022. Only in May 2022 did the RSI hit a lower reading than yesterday yet XRPUSD is priced much higher compared to early 2023. Just pointing out another bullish signal in a convoluted way.
Let's rewind, let's look at it differently.
Since the start of 2023, XRPUSD has been producing higher highs and higher lows. It is normal to see retraces and corrections but the trend, the bias will always remain the same as long as this hh/hl pattern doesn't break.
Long story short; We can expect XRPUSD to continue growing.
Thank you for reading.
Namaste.
P.S. Invalidation can happen but this would take a nuclear bomb going off. If this happens, XRPUSD will be the least of our worries. If there is a major stock market crash, Crypto will detach because people are tired of the old market and would like to try the new one.
Comment:
The SEC today admits that XRP is not a security based on the ruling of the case they lost. This is not news to us but still a bullish signal for this market.
Comment:
Support confirmed. XRPUSD now set to produce a new high based on the current chart.
New trade idea will be published later today with updated numbers.
Major bullish development, the SEC loses again, affecting the Crypto-market.
New trade idea will be published later today with updated numbers.
Major bullish development, the SEC loses again, affecting the Crypto-market.
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