Folks,
I'll start by saying this is my first published idea, and also, I am not a XRP shill. Whether or not it's here to stay in the cryptosphere remains to be seen, but it's had a lion's share of market cap and press so far, so I don't see it ghosting us in the next month.
Yes, it was incredibly overbought, shilled on CNBC, "HQ" chat and more, and a lot of folks are holding bags sky high.
By the same token, the daily looks *FAIRLY* oversold at this point. Is there room to dump more? Of course:
XRPUSD targets could be as low as retests of mid 0.50s, .30 and deeper, and dead, and gone.
XRPBTC targets reaching its historic spring and winter '17 highs depend, of course, on XRP news and BTC's price action.
In the short term, assuming plenty of traders are looking to buy this dip, and knowing how wary we all are of this creepy coin, I'm not forecasting anything other than a partial retrace of this epic selloff.
Targets? .00012000 Maybe.
TL/DR: while a "dip on ripple is like a kid getting into a candy van (-TV chat)", still, it is a *possibly already* or soon/yet to be oversold dip, even if a dead cat is on its way to the underworld. If you firmly believe in this tech and performance against BTC, long here or at lower support. If you just trade volatility, I anticipate some oversold fomo at some point and then ... god knows!
I'll start by saying this is my first published idea, and also, I am not a XRP shill. Whether or not it's here to stay in the cryptosphere remains to be seen, but it's had a lion's share of market cap and press so far, so I don't see it ghosting us in the next month.
Yes, it was incredibly overbought, shilled on CNBC, "HQ" chat and more, and a lot of folks are holding bags sky high.
By the same token, the daily looks *FAIRLY* oversold at this point. Is there room to dump more? Of course:
XRPUSD targets could be as low as retests of mid 0.50s, .30 and deeper, and dead, and gone.
XRPBTC targets reaching its historic spring and winter '17 highs depend, of course, on XRP news and BTC's price action.
In the short term, assuming plenty of traders are looking to buy this dip, and knowing how wary we all are of this creepy coin, I'm not forecasting anything other than a partial retrace of this epic selloff.
Targets? .00012000 Maybe.
TL/DR: while a "dip on ripple is like a kid getting into a candy van (-TV chat)", still, it is a *possibly already* or soon/yet to be oversold dip, even if a dead cat is on its way to the underworld. If you firmly believe in this tech and performance against BTC, long here or at lower support. If you just trade volatility, I anticipate some oversold fomo at some point and then ... god knows!