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Saturday, August 15, 2020

Where I'm Looking to Buy More XRP

Where I'm Looking to Buy More XRP

XRP / U.S. dollar BITSTAMP:XRPUSD

The general market sentiment at the moment is overly bullish which is always dangerous to buy into. XRP is currently at major resistance (0.5 level), due to how strong the bulls are we can smash through this as well but we'd likely reject at the 0.6 level. Both options I expect to retrace back down to the base of the W formation we've made on the weekly chart. This is a common reversal pattern that usually returns to the base so I'll be looking to buy if price returns here. We could have another large impulse up but in a market like crypto it's better to wait for a good buying opportunity rather than hold through a large correction down. Hope everyone has a great weekend and goodluck



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