Just wanted to share a few thoughts on XRP's recent price action.
There's no doubt that what happened between yesterday and today is a classic pump and dump scheme, however, there's a few things to be read.
1) Price action haven't reached the pre-pump levels, adding the high selling volume in the last few 4 hrs. candles, one might think that the dumping might still be going.
2) However, there is a silver lining that might come out of all of this. This dumping might be an opportunity to retest XRP's bottom at the $0.17 level, which has proven highly reactive in the past, perfect for opening long positions. Adding to that there's the fact that things might workout for Ripple regarding SEC's lawsuit, which would be greatly influential in an upcoming bull run for XRP.
This is not trading advise of any kind.
Please, if you like my ideas feel free to donate to the following so I can keep them coming:
BTC: bc1qsj68erhaey9z77tw2ewyhz4gsptjm4as38xqz7
ETH: 0x2e3EC13818124420c4a0E2bff69Be51aEEA647fD
There's no doubt that what happened between yesterday and today is a classic pump and dump scheme, however, there's a few things to be read.
1) Price action haven't reached the pre-pump levels, adding the high selling volume in the last few 4 hrs. candles, one might think that the dumping might still be going.
2) However, there is a silver lining that might come out of all of this. This dumping might be an opportunity to retest XRP's bottom at the $0.17 level, which has proven highly reactive in the past, perfect for opening long positions. Adding to that there's the fact that things might workout for Ripple regarding SEC's lawsuit, which would be greatly influential in an upcoming bull run for XRP.
This is not trading advise of any kind.
Please, if you like my ideas feel free to donate to the following so I can keep them coming:
BTC: bc1qsj68erhaey9z77tw2ewyhz4gsptjm4as38xqz7
ETH: 0x2e3EC13818124420c4a0E2bff69Be51aEEA647fD
