XRP Update 4HR TF
XRP went on an absolute heater last week from $0.32 to $0.558, so far ending with a rejection just below the 300EMA on the daily TF.
Thing to note:
- Broke back into BF channel
- Bearish cross of 9 below 50EMA just happened this past midnight EST
- Finding support @ 100EMA
Don't sleep on that bearish cross, the 9 crossing the 50 is usually a very powerful bearish cross.
I told everyone last week that I did not believe this was the big run we've been waiting for, so I sold some XRP @ $0.44 spot, which turned out to be too early, but I took a short right @ $0.55 which has been a banger so far.
Ultimately looking for XRP to bottom within the $0.10 - $0.20 range into mid Oct/early Nov, where I will use the money from the spot/short to quadruple the original position.
Thing to note:
- Broke back into BF channel
- Bearish cross of 9 below 50EMA just happened this past midnight EST
- Finding support @ 100EMA
Don't sleep on that bearish cross, the 9 crossing the 50 is usually a very powerful bearish cross.
I told everyone last week that I did not believe this was the big run we've been waiting for, so I sold some XRP @ $0.44 spot, which turned out to be too early, but I took a short right @ $0.55 which has been a banger so far.
Ultimately looking for XRP to bottom within the $0.10 - $0.20 range into mid Oct/early Nov, where I will use the money from the spot/short to quadruple the original position.
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