xrp trend and how to capture it

26 בינו׳ 2022

xrp is the small coin trading between range of almost below 2.00 to above 0.500

due to its high volatility i switched to monthly time frame, so if you are a short trader or can absorb the extra ups and downs of the coin and has longer horizon then only it is applicable according to this setup


*As we see from the start the coin opened and made lower low and later after 2 years it breakout and went up high
*since the breakout price give huge upside but retracing back to 0.7 on fibs
*we have found two similar action in past,
*currently the price seem to be declining and coming back to fib 0.7, which on price chart is (0.5200 to 0.500) << BUY >>
*Target of 3.400 (based on fib extension) and Stop loss of 0.2990 (below the ascending uptrend dotted black line)

NOTE:
*only for investment purpose
*trade only you have some confluence with my idea
*initiate your trade according to your style and strategy

Let know your views and opinions in the comment