virabhairava
Long

XRPBTC buy idea

BITMEX:XRPXBT   None
I'm not a fan of XRP fundamentally but charts don't lie.

XRP entered heavy demand zone and I think we'll see an upside movement of at least 10% from here short-term.

Just to be safe, ladder buys throughout the green box.
Comment: Finally, this is a short term play, a scalp -- I'm playing this on bitmex with high leverage. I wouldn't consider buying and holding actual XRP above 3-3.5k sats, but I believe this can be a very profitable scalp trade
Comment: I would be closing 80% of this position at 5.5k sats and move my stop and profit.
Comment: Bounced nicely. I had bought all the way down & have more unfilled orders -- now I have canceled them and I'm debating where to exit.
Trade closed: target reached: closed at 5375!!! 400% ROE at x20 leverage :)
Comment: ha! reached well above 5.5k. i'm happy with my profits :)

Comments

Regardless of the buyzone being accurate, it hit the bottom of a regression trend - the bounce is due. I am very comfortable with my long position here.
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