The shorts on XRP/USD are at a record all time high right now. When viewing the weekly timeframe we can see that nearly every time we have a massive discrepency like that, we get a big dump of at least 30% in the following week. With up to 50-60% dump in the weeks after.
This would be a maximum pain scenario. First they flushed out all the leverage longs leaving...
Even my 4 year old daughter could figure what happens next on this chart. A BIG RED CANDLE enters and destroys everyone short positions.
People shorting XRP is at an ATH!!!! CRAZY if you ask me! Yes we had a "healthy" and scary "CORRECTION but we have V bottomed perfectly on the FIB retracement level.
Have people have lost faith in XRP and are shorting it to...
just taking a quick look at the XRPUSDSHORTS, which seem to be at a decisive point. If XRPUSDSHORTS convincingly fall below the yellow ascending trendline, the next medium term target would be the green box. Correspondingly, XRPUSD may be up for a new rally (3rd Elliot wave).
* Note that I am using the Log-scale.
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