XRP/USD [8H]
Once again, unexpected price action.
Today all markets got a beating once again, including the stock market.
Crypto also went down because DXY rallied up today mainly, after initially dropping.
On days like this its important to zoom out, and to understand where we are and to repeat certainties.
As long as XRP remains in this pattern the way it is, then we understand the break-out that we are waiting for is very near.
After the crazy liquidation event, we understand that the correction and the bottom had already been reached, in combination with our pattern we thus understand a break-out is imminent. Even if we are facing days like this.
Do not overleverage, we will continue to monitor.
XRP/USD [1H]
We decided to zoom in on XRP today to highlight what is happening.
We pulled-back, and are now lingering in the 200EMA on the 1H just like some other pairs.
It's extremely important that this level holds, to continue bulls.
We need some more confident price action soon to continue the bullish rally, and we are still awaiting it as that remains our bias.
We will continue to monitor.
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