Was Correct About Ripple Dip - Ripple Rebound ForThe Short Play!
XRP behaved as expected. Many people are quick to call tops without calling bottoms as well. Thanks to everyone who send me a message telling me about your profits! I hope everyone continues to make smart trades.
If you are holding XRP right now the only smart move to make is to switch to another currency you are positive is going to grow faster than Ripple - or wait.
As a professional trader I spend weeks or months waiting for assets to get to where I want them to be sometimes they are in the negative for most of that time. Crypto is a thousand times the speed of any other asset class - in a market that doesn't sleep. Some describe month long holds as "longs" whereas in other markets that would be a very short horizon.
In part due to the fact that the market never closes and also because there are no regulations against practices that are banned on regulated markets - Ripple sometimes trades its worth - other times it pauses before catching up. Ripple has an inverse relationship with Bitcoin whether we like it or not.
BTC appears to be tracing the bottom right-hand side of an inverse head at shoulders pattern. BTC is currently trading at $6500 and will rise to $7100 again by Aug 10th.
Ripple will gain momentum thanks to BTC and should quickly move back up to the 5700-5800 range from the BTC pressure alone. With the added momentum, we should see 61k sats again in short course.
I still believe in a $2 Ripple at some point this year. Summer trading has traditionally proven to be rewarded by the major gains seen in the fall!. Ripple is a good buy right now on the short play - or to add to your portfolio of "long" positions - the price is right.
If you are holding XRP right now the only smart move to make is to switch to another currency you are positive is going to grow faster than Ripple - or wait.
As a professional trader I spend weeks or months waiting for assets to get to where I want them to be sometimes they are in the negative for most of that time. Crypto is a thousand times the speed of any other asset class - in a market that doesn't sleep. Some describe month long holds as "longs" whereas in other markets that would be a very short horizon.
In part due to the fact that the market never closes and also because there are no regulations against practices that are banned on regulated markets - Ripple sometimes trades its worth - other times it pauses before catching up. Ripple has an inverse relationship with Bitcoin whether we like it or not.
BTC appears to be tracing the bottom right-hand side of an inverse head at shoulders pattern. BTC is currently trading at $6500 and will rise to $7100 again by Aug 10th.
Ripple will gain momentum thanks to BTC and should quickly move back up to the 5700-5800 range from the BTC pressure alone. With the added momentum, we should see 61k sats again in short course.
I still believe in a $2 Ripple at some point this year. Summer trading has traditionally proven to be rewarded by the major gains seen in the fall!. Ripple is a good buy right now on the short play - or to add to your portfolio of "long" positions - the price is right.