I'm not normally a fan of XRPUSD as it does fit into a different category of cryptography in the decentralisation revolution that is happening but...the price of XRP is so low and the technology is working.
As shown on the charts I will be looking at DCAing in the shown triangles as I see a pennant forming. Once we break to the upside of the pennant I will be keeping my eye on the $0.5 level and looking to put a leveraged trade when we smash through this level which has been a historical point of resistance and support.
Also, looking at the volume in the last few months it has been going through the roof so there are a lot of people speculating with bears matching bulls at this level...all we need is a bit of news to sway it one way or another.
I won't go through the risks of XRP as you can google them easily but I will list them off that you need to be aware of that could tank the project.
MY XRP PLAN NOW:
DCA with 10% of introduced funds into XRP at the levels stated on chart
HODL
XRP PLAN @ $0.50:
Might look at a leverage trade when above $0.50 but will focus on mainly BTC and ETH for this and will only do it have spare trading amount to trade.
From previous bull-run XRP was late to the party so there is a chance this may happen again. We will have to wait and see.
Maintain or gain
As shown on the charts I will be looking at DCAing in the shown triangles as I see a pennant forming. Once we break to the upside of the pennant I will be keeping my eye on the $0.5 level and looking to put a leveraged trade when we smash through this level which has been a historical point of resistance and support.
Also, looking at the volume in the last few months it has been going through the roof so there are a lot of people speculating with bears matching bulls at this level...all we need is a bit of news to sway it one way or another.
I won't go through the risks of XRP as you can google them easily but I will list them off that you need to be aware of that could tank the project.
- Countries releasing their own CBDC that is just as cheap and fast as XRP
- The concentration of pre-mined coins held by Ripple and they can control supply to a degree for now
- Why a co-founder Jeb McCaleb really sold 54 million XRP?
- SEC issues deeming XRP potentially a security and class-action lawsuit(s)
MY XRP PLAN NOW:
DCA with 10% of introduced funds into XRP at the levels stated on chart
HODL
XRP PLAN @ $0.50:
Might look at a leverage trade when above $0.50 but will focus on mainly BTC and ETH for this and will only do it have spare trading amount to trade.
From previous bull-run XRP was late to the party so there is a chance this may happen again. We will have to wait and see.
Maintain or gain