There is a trading saying: "Once per cycle, even ripple shoots."
$XRP shot up by +480% in just 1 month!
This event only happens once every 4 years in this coin, so the next time such a pump will happen will not be soon.
🤫 XRP coin has a brother$XLM , which are completely correlated with each other.
Moreover, this coin always falls strongly and quickly after a strong and rapid growth.
Over the past 7 years, many traders have been stuck in this coin at prices of $2-3. Surely, many of them will want to finally exit from years of losses.
📚 Fundamentally, such growth occurred against the backdrop of a partial victory in court against the SEC. The court's decision has become a precedent for other cryptocurrencies that are also under SEC scrutiny. Now, companies issuing tokens can use Ripple's arguments to protect their operations.
Essentially, the market is currently working through this news, but sooner or later, there will be no strength left for continued growth. New news triggers will be needed to continue the rise, but such a strong trigger as now cannot be surpassed.
On the other hand, profits from the coin can be invested in more interesting coins right now. Therefore, it is quite logical that XRP should not be bought now, but actively sold!
🕯 Technical analysis
The coin has successfully broken through and settled above the long-term downward trend!
Now we can confidently say that XRP will not be below $0.9-1 for a long time (unless a scam occurs).
It is precisely at any prices below $1 that one should look for purchases for those wishing to do so in the future, rather than at current prices.
In the medium term, the coin is moving within an upward trend and is already almost at the upper boundary of the channel. The indicator is in extreme overbought territory 😮💨
There is only one last short liquidity zone above $3.3 - the historical high of the coin. That is where the last stops of short-sellers are likely to be taken out before the crash 🔪
The coin literally has a maximum growth potential from the current levels of +77% with a risk of falling by -60%.
The deal turns out to be extremely disadvantageous, especially considering that XRP is very heavy in terms of market capitalization.
📊 Result:
XRP shoots up by hundreds of percent in every growth cycle, but then just as quickly falls back.
If you have ever bought XRP, we recommend closing at least half of your position and trailing stops on the remainder as the price rises.
If you have no position, then do not buy strictly.
Right now we have 2 basic scenarios:
1️⃣ Continuation of growth to a maximum of $4.9 and then a sharp collapse.
2️⃣ A move into a slowly growing sideways trend and then a collapse.
Do not try to short this coin, and if you feel the urge to go long, setting leverage above x5 is useless.
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