XRP - Still Expecting For Price To Revisit $0.65 Area
Even after a week, there is still nothing new that has happened across the markets in terms of price appreciation. In XRP-BTC pair we had some appreciation towards XRP (will show later in the update of this idea). It is hard to say where BTC might be going right now (setting a new low or not) but looking at the XRP i still see green price area to get revisited at some point, even if it is just a wick.
Looking at a structure of this recent breakout and comparing it to the one made on the bigger timeframe, they look quite similar. I expect therefore still a small drop nevertheless.
I the rare case where this green area doesn't hold i expect yellow rising trendline to get tested and reverse the price. In this case btc would probably set a new low just below 32k.
I am not a financial advisor so non of this should be taken as a financial advise. Be well.
Looking at a structure of this recent breakout and comparing it to the one made on the bigger timeframe, they look quite similar. I expect therefore still a small drop nevertheless.
I the rare case where this green area doesn't hold i expect yellow rising trendline to get tested and reverse the price. In this case btc would probably set a new low just below 32k.
I am not a financial advisor so non of this should be taken as a financial advise. Be well.
To make it all more simpler... money in BTC has strated to rotate into XRP. Usually when you see altcoins explode for no reason more than 100% in one day is usually becouse a short squeeze is happening with BTC pair and not with USD.