I believe XRPUSDT is heading downtown

Dec 9, 2024

As much as I would love XRP to pump further, I don't see it happening. Momentum has been waning for days now and it's accelerating it's dumping as we speak. I believe there might be MINOR support around the $1.90 mark, and then will hover around $1.50 temporarily, but eventually I believe it's heading back to around $0.60 - $0.70 within the next month or so.



People getting caught up in the pump really need to zoom out and starting looking at weekly charts. It's near vertical. I've been through this before back in 2017/2018.



I'm personally going to wait until it reaches the $0.60 - $0.70 level and show signs of consolidation. From there, I will start DCA'ing in.

I may look at taking a short-term trade around $1.50 to help accumulate more however.

Dec 10, 2024

Trade closed: target reached

XRPUSDT hit $1.90 exactly on Binance earlier and found that support I mentioned. I took out a small long trade on this and rode it to $2.19 where I took profit. It did however keep going and broke upwards out of resistance levels.



For now I am sitting on the sidelines and watching for a retracement to the 0.382 fib area, which also corresponds with the previous resistance. If it finds support there, may look at taking out another short-term long trade. I do, however, still think we're heading downwards to the $1.50 level at some point this month.