XRP Bullish Setup
Many are anticipating lower XRP prices however there are a few reasons why the next six months look bullish to me:
This is not financial advice. User "eloquentplatypus" accepts no liability for any financial losses due to the information provided.
- As you can see in the related idea Bitcoin is nearing the end of its bear market. Because of BTC XRP coupling, the only reason XRP really has to drop is if BTC dumps heavily so it is likely that XRP has support at current levels. Note that in August when BTC was around $7500 XRP was a similar price to now.
- XRP is nearing the end of a massive wedge that terminates in mid March. I believe it is likely we will see a bullish move from XRP out of the wedge between now and then.
- It has been 46 days since XRP had a small rally. This means that the 50 day MA has bottomed out and is starting to rise again. If it continues on that trend it simply has to get to around 40c for a Golden Cross to occur which would inspire further confidence in bulls.
This is not financial advice. User "eloquentplatypus" accepts no liability for any financial losses due to the information provided.
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