XRP/USD [8H]
Also nothing new from XRP, just sideways boring P.A as well.
I want to repeat that technically speaking we can go very bullish from here, because we just swept a little lower from C (ABCDE pattern) so technically speaking it's valid that E has ended.
However, just like the text in the chart points out that it is more likely that we will drop more, especially since BTC and ETH also have potential to go lower before seeing bulls return.
Manage your positions and risk accordingly, all of this is simply a great discount when the bulls unleash.
We're all gonna make it.
XRP/USD [8H]
Also XRP is expected to make another leg to the downside. We discussed this previously why it is more likely that we will go lower and technically we can go as low as 2.33 XRP.
XRP is still the most promising looking from a technical analysis perspective. The correction is looking still very, very bullish. This type of price action is quite promising and we are still eye’ing that $4.6 XRP target when this bearish correction finishes. And also here, do not panic and do not overleverage already, do not guess when we will go up if you are a leverage trader. If you are not a leverage trader, then all of this is a good time to buy with discount prices.
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