Another risky trade for XRPUSD. My first target is $0.60 where I will take my initial capital out and then at $0.68 I will close the trade, wait for a pull back to around $0.55 and then open another long. Bitcoin is stealing the show right now, but soon the alts will get a chance too. This time the alts will enjoy more attention due to a few reasons:
We are in a bull market right now, so we should think like a bull.
- Bitcoin is breaking all time highs - many will be taking profit and sell into altcoins.
- Crypto regulatory clarity is only 4-6 weeks away and that is great news for coins like XRP and XLM - a lot of institutional money will flow into XRP and XLM, a lot of money.
- POW coins are in danger of being called out by IMF and WEF for wasting resources (high electricity usage, high friction in payments, expensive to run, centralized mining, rogue players) - money will flow from POW coins into non-POW coins.
- Flare networks going live in 3-5 months - DeFi on top of XRPL will be much more sustainable, regulated, and profitable.
We are in a bull market right now, so we should think like a bull.
Trade active:
I decided to keep the trade open and add to my position at $0.47 and $0.44. Average entry price for this trade is now $0.4631. Stop loss is set at $0.398
Comment:
Trade going strong, glad I kept it open!
Trade closed manually:
Closed the trade at $0.64, great trade.
Looking to open another long sometime during the weekend!
Looking to open another long sometime during the weekend!