Ripple another Pullback to the Support Zone or Skyrocket now?
XRP/USDT is the correction now finished ?
XRP or Ripple shows an interesting chart picture. It looks like Ripple is giving us a sign to jump back on the train. On the big chart we are still in an uptrend. So when we see dips, that's usually a good opportunity for a long term entry into this token.
Why not an ABC correction. Another wave of selling would fit well into the chart. On the bottom I have marked a possible pullback zone and this could provide power.
On the 12H chart, the last 12H PG has now ended. Ripple has become a good trading market and so far all major tokens have started once. Whether it now looks fundamentally good or bad hardly matters, because the market shows interest in this value. This token has clearly a fixed place in my watchlist and from today an order at the 77 cent mark.
Source: (Guidants/Godmode Trader) & JFD Broker & Binance
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I think the SEC case is deciding the direction here mainly. And on the whole that case appears to be grinding and gradually shifting into XRP's favour.
Things could still turn around to the detriment of XRP, but if they do then many other cryptocurrencies will get affected as well, and XRP will be one of the few coins where the drama has already been priced in to some extent.
But don't get me wrong: I'm not necessarily saying XRP is the ideal investment. After all, one doesn't gain much interest on holding XRP for instance ;).
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XRP is purely a speculative objet for me. The signals it gives me work really well. Yes the markets fall mostly together and I guess there is still a movement on the downside coming
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