XRPUSDT (Bittrex) - How To Trade It
Updated
Whilst XRP is showing many bullish signs at this moment, it has been trading on a long parallel channel for months. With a huge range of 30% from top to bottom and vice versa.
Now, if we are looking for something BIG, we need to break the top line of the channel first. Marked with the Magenta line.
If XRP closes above it on a single day, we are looking at possibly some major gains.
If this trades interests you, you have the option to join now and wait, with a stop-loss at the level of .2198.
The second choice is to wait until the trendline has been break. As soon as that happens, above 3000, you can open a LONG and positive trade. With a short stop loss at .2788
P.S. Already fighting with the first strong resistance (green dotted line).
Hope that helps.
Now, if we are looking for something BIG, we need to break the top line of the channel first. Marked with the Magenta line.
If XRP closes above it on a single day, we are looking at possibly some major gains.
If this trades interests you, you have the option to join now and wait, with a stop-loss at the level of .2198.
The second choice is to wait until the trendline has been break. As soon as that happens, above 3000, you can open a LONG and positive trade. With a short stop loss at .2788
P.S. Already fighting with the first strong resistance (green dotted line).
Hope that helps.
Note
XRPUSDT is way over its TD count. Bitcoin took off, but there is still no sign of retrace. This coin tends to fall short, always, as it has been trading on the same channel for months...If it stays above 0.28, this signals strength.
If it breaks, look out, you can search for support at 0.265 and 0.245 before even getting near to the stop loss.
Chart:
Trade active
An image is worth 10 Billion words... in this case:Trade active
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Note
I don't know how this pair is doing compared to XRPBTC, but I sold all of my XRP (for BTC) expecting to buy back lower. Just a heads up.The chart looks exactly like the BTC pair:
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