✴️ XRPUSDT | It Only Needs Patience (Name Your Altcoin #7 ✅)

2 févr. 2023

I've shared many trade ideas in the past weeks for XRPUSDT, looking to catch the bottom and reversal being the main goal which ended in success. Now everything looks so much better, before the breakout, before moving above the moving averages, before breaking the downtrend, before the volume comes in, it is all check, re-check, look again, confirm, visit other charts back and forth...

Once the bullish breakout is in it becomes so much easier because even if a drop comes, there is plenty of room for prices to retrace yet end in a higher low which is followed by more growth but near support it is a different story, if a drop happens it can keep going lower and lower until a new support level is established.

XRPUSDT has been trading above MA200 14-Jan., which is great.

A strong rejection candle showed up 30-Jan. but the bulls jumped in again and saved the day.

Can it drop? Yes for sure but we have a bullish bias and so we stay bullish unless any potential drop actually develops.

The potential is always there, for up or down but we have to stay with the market while the potential remains just that, a potential.

The support level is pretty clear since all the moving averages are meeting within a narrow range.

-EMA50 at 0.3881

-EMA100 at 0.3909

-MA200 at 0.3941

-EMA21 at 0.3990

-EMA10 at 0.4073

This gives us a very strong support level in the range of 0.3880 - 0.4080.

If XRPUSDT is trading above this range, ultra-bullishness short-term.

If it moves below this range, then the short-term bias can change as XRP can move to seek/establish a higher low, test previous resistance levels as support.

Why not go/switch bearish as many people are doing right now?

The fact that XRPUSDT has failed to produce a new low since June 2022 is a strong bullish signal.

If you look at the price action after November 2021, every single move would end up in a new low, that's a bearish trend and since this is no longer the case, no new lows we can never switch to bearish unless the market conditions change.

Everything can always change within days... Always, but the fact that we've been expecting a strong recovery since November 2022 and this recovery is taking place and continues to build up, that's the confirmation that whatever uncertainty the market throws at us, it is just that, the big ones trying to shake the small ones or simply the trauma of going through so much blood.

Namaste.