XRP UPDATE
We have had a lot of bullish news recently on XRP as the SEC case is coming to an end - this has caused a 80% rally from the currently lows. However the market has formed a huge double bottom on the weekly and daily TF - below equal lows resides liquidity. Also just below the double bottom is a unmitigated weekly Order block which means price is still very likely going to get attracted into this zone.
We can identify price is still overall bearish forming LH LL on the weekly TF bouncing from the 0.618 fib from the most recent bearish impulse high to low.
Given the High probability of another interest rate hike and new lows on BTC i do expect XRP to follow the market. This does not change my long term perspective AT ALL but some food for thought if you are thinking about 'FOMOING' in at these current highs 🙏
We can identify price is still overall bearish forming LH LL on the weekly TF bouncing from the 0.618 fib from the most recent bearish impulse high to low.
Given the High probability of another interest rate hike and new lows on BTC i do expect XRP to follow the market. This does not change my long term perspective AT ALL but some food for thought if you are thinking about 'FOMOING' in at these current highs 🙏
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