XRP Accumulation for 100% return
I believe we are in a prolonged, multi-asset bear market.
With that said we have not had a significant retracement for months. We are overdue both in time and price.
A break of the recent lows will do the following:
1. Stop out any currently accumulating bullish positions with stop losses
2. Trigger entries for short sellers expecting a larger downside move (creating liquidity above for buyers)
3. Increase overall fear, making it difficult for retail to buy
To me it looks like a perfect storm for price to catapult up to .60+ at which point I would highly recommend taking profits as the aforementioned bear market has not yet ended.
With that said we have not had a significant retracement for months. We are overdue both in time and price.
A break of the recent lows will do the following:
1. Stop out any currently accumulating bullish positions with stop losses
2. Trigger entries for short sellers expecting a larger downside move (creating liquidity above for buyers)
3. Increase overall fear, making it difficult for retail to buy
To me it looks like a perfect storm for price to catapult up to .60+ at which point I would highly recommend taking profits as the aforementioned bear market has not yet ended.
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