[Potential] XRPUSDT: 3-6 Mth Range Play

5 giu 2022

XRPUSD

Technicals:
- The two Horizontal Trendlines range in Yellow is a good consolidation area albeit quite a wide range
- The other 2 Horizontal Trendlines (0.73 and 0.90) are also consolidation areas (good to either TP at those levels or take some off exposures off the table at those levels)

Fundamentals:
- The crypto space has taken a drastic hit from big capital wipeouts from major selloffs in various asset classes
- There is still plenty of fear going on in the market and this bear market may drag on for some time
- For Ripple, there is alot of ongoing legal issues that needs to be resolved with the SEC before we can see XRP moon

-----

Expecting XRP to keep ranging in the Yellow area for now; watch for bounces off Trendlines to make good use of the XRP buying demand at key levels.

We will be waiting for confirmations of multiple confluences before considering this trade setup ready. Patience is the key to success.

-----

*This pair outlook is provided on an advisory basis. Any trade decisions made based on this outlook is a personal decision and we are not responsible for any losses derived from it.