XRP has yet to show some significant bullish price action ever since the LUNA collapse almost two months ago.
Since then, XRP has been trading inside a bearish channel. Naturally, the bears are very happy with this chart.
In my view, we're likely to re-test the bottom of the channel. I'm not looking for an entry before we either touch the bottom of the channel or if we break out of this bearish channel on the top side.
If BTC fails to hold the $18k-$19k area, it's most likely that XRP will continue to drop, potentially all the way to $0.25, which is in line with my bear-market accumulation area for XRP.
Since then, XRP has been trading inside a bearish channel. Naturally, the bears are very happy with this chart.
In my view, we're likely to re-test the bottom of the channel. I'm not looking for an entry before we either touch the bottom of the channel or if we break out of this bearish channel on the top side.
If BTC fails to hold the $18k-$19k area, it's most likely that XRP will continue to drop, potentially all the way to $0.25, which is in line with my bear-market accumulation area for XRP.
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