XRP: Showing Signs of Strength! - Buying Opportunity Spotted

12 thg 10, 2020

Here we talk strictly from a Fibonacci sequence and trend line support perspective in terms of technical analysis. Although we don't advise looking into alts due to the bumpy ride of Bitcoin, we love larger picture time frames to get the overall view of the market.

Risk reward ratio (RRR), support line higher lows, and our strong bounce off of the 618 immediate sequence gives us an opportunity to open a long here.

If the market shows its strength in the coming weeks, we may see XRP show signs of revitalization in the market, bringing this 'dinosaur' alt back to life.

We can open a position based on the red-green boxes, with our stop loss in mind which is wider than expected. The reward is large here, especially if leveraged in slowly.

Trade Safe!
X Force