The Bad News: Despite a majority of all other cryptocurrencies going up 2-10x the last couple months, XRP has seen minimal gains USD side. On the BTC side, ripple has gotten completely destroyed. Smashing yearly log support lines and sending XRPBTC in what seems a never ending bear cycle.
The Good News: Looking at nearly every previous bull run, XRP has almost always lagged behind the market. Meaning there is still some hope for it to get a pop. Especially with us sitting on this crucial support level.
The Technicals: Taking a closer look at the XRPBTC pair, XRP is currently testing a 494 day old trendline. This same TL also matches the 3/1 Gan Support level from December of 2017. Another bullish sign is the RSI showing both hidden and bull divergence.
My Current Trade: Entry: 6400 sats TP1: 8000 sats TP2: TBD S/L: 6000 sats
Reasons not to trade this: - XRPBTC has completely broken this trendline on the log scale. - Typically, XRPBTC pairs are not as reliable as USD
I hope you all found this interesting and I wish you the best of luck!
I am Divergence guy as well, here is my idea about all big Divergence of BTCUSD sincd December 2017
Is Divergence the King or Queen of Crypto Technical Analysis?
Is Divergence the King or Queen of Crypto Technical Analysis?