BTC is looking ripe for a pullback. When that happens Altcoins do one of two things. Go up or go down. Generally speaking here, most of the altcoins in this market have been pretty dead for some time and haven't seen much growth if any since BTC starting its rally in March. So its possible we might see the altcoin market grow when BTC pulls back.
That being said, Ive been following this market for years and I have always noticed that XRP lags a bit behind BTC. XRP is also one of the top altcoins that hasn't really had much growth compared to BTC. ETH has seen a good rise with BTC and it also looks like it is ready to pullback. But XRP hasn't really been doing much.
So take a look at this Daily chart of XRP/BTC and tell me what you think. Price is getting really close to the bottom trend of this triangle. Where historically it has increased in value rapidly. RSI levels are oversold. Theres some strong divergence with the RSI, unfortunately none with MACD so it's a mixed signal. But it's a nice confluence area and this is crypto, so 500% in a month is not unrealistic.
Happy trading :)
That being said, Ive been following this market for years and I have always noticed that XRP lags a bit behind BTC. XRP is also one of the top altcoins that hasn't really had much growth compared to BTC. ETH has seen a good rise with BTC and it also looks like it is ready to pullback. But XRP hasn't really been doing much.
So take a look at this Daily chart of XRP/BTC and tell me what you think. Price is getting really close to the bottom trend of this triangle. Where historically it has increased in value rapidly. RSI levels are oversold. Theres some strong divergence with the RSI, unfortunately none with MACD so it's a mixed signal. But it's a nice confluence area and this is crypto, so 500% in a month is not unrealistic.
Happy trading :)
Watch closely.