If XRPclose this candle above 200Dma, I except xrp start outperforming heavily against bitcoin. This in rock solid bottom and huge potential to upside. Good way multiple your btc stack.
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XRP start breakout against BTC. This will be interesting setup.
Does this mean that XRP-USD will go up too?
Thanks for your chart!
Hmikael
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@Gaengphed,
I also think the price against the dollar will rise. But as you can see, the xrp / usd pair broke 200dma a few days ago and the price has gone up parabolically. I think it’s dangerous to jump into that ride at this point (specially with leverage). A temporary retrace is possible scenario soon. If we talk higher time frames, I think XPR/USD do something grazy moves upside next 12 months. Look my chart what I publish.
It is important to try to take a good position... so it is not good bought in immediately with a market order when candle close, but a long bid should be placed a little above ma200. For example look how nicely price test 200dma line in xrp/usd chart couple days ago. I think the new peak for xrp / usd is between $ 10-15.The whole crypto market is starting to recover from the long bear market and now it’s time to go up! :)
Gaengphed
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@Hmikael, thanks for the explanation. Looking forward to where we are going. Cheers!
Thanks for your chart!