XRPUSD Higher? We still like the long side of XRP buy pullbacks
Although XRP has been in the headlines a lot recently regarding US regulators we still like the long side of this Crypto currency and have been adding to our exposure since its major selloff.
However we dont see a great location to add to our position around these levels.
Unless one is prepared to have a considerably high risk tolerance to this Crypto we would avoid adding here and would prefer lower prices first, Alternatively we would consider adding higher once the new breakout occurs with a better idea of where we would have an acceptable risk.
Crypto currencies have a tremendous amount of volatility and so if you are not prepared for large percent % drawdowns one would do best to pick strategic entry points or trade a different asset class completely.
On the other had if one is building a long term portfolio of crypto holdings then averaging into XRP/USD with more flexibility to precise price levels is not a bad idea.
However we dont see a great location to add to our position around these levels.
Unless one is prepared to have a considerably high risk tolerance to this Crypto we would avoid adding here and would prefer lower prices first, Alternatively we would consider adding higher once the new breakout occurs with a better idea of where we would have an acceptable risk.
Crypto currencies have a tremendous amount of volatility and so if you are not prepared for large percent % drawdowns one would do best to pick strategic entry points or trade a different asset class completely.
On the other had if one is building a long term portfolio of crypto holdings then averaging into XRP/USD with more flexibility to precise price levels is not a bad idea.