seekingpips

XRPUSD Higher? We still like the long side of XRP buy pullbacks

Long
BITSTAMP:XRPUSD   XRP / U.S. Dollar
Although XRP has been in the headlines a lot recently regarding US regulators we still like the long side of this Crypto currency and have been adding to our exposure since its major selloff.

However we dont see a great location to add to our position around these levels.

Unless one is prepared to have a considerably high risk tolerance to this Crypto we would avoid adding here and would prefer lower prices first, Alternatively we would consider adding higher once the new breakout occurs with a better idea of where we would have an acceptable risk.

Crypto currencies have a tremendous amount of volatility and so if you are not prepared for large percent % drawdowns one would do best to pick strategic entry points or trade a different asset class completely.

On the other had if one is building a long term portfolio of crypto holdings then averaging into XRP/USD with more flexibility to precise price levels is not a bad idea.

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