Another altcoin everyone should be watching is XRP which in a weekly candle view is currently trading inside my favorite kind of bull flag - a flat top bull flag. Again, I'm not here for the cultist and triabilist mindsets on xrp as I know I am sure to get some comments - this is about protecting your capital - treat it seriously as this isn't a meme coin. Brad Garlinghouse is seen in a photo standing next to the head of the IMF - Christine Lagarde. Remember, it always pays to be contrarian from popular social groups and tribalists.
stocktwits.com/ich1baN/message/330645221 - CEO of Ripple, Brad Garlinghouse, and IMF Chief - Christine Lagarde
If this were some joke of a coin, you would never see these 2 individuals standing in a room next to each other... yet, here they are.
There are key dates as it pertains to the fallacious lawsuit by the SEC which was brought on by a former SEC chair, Jay Clayton, and not the current SEC chair who happens to be pro crypto - Gary Gensler.
The judge has already made indication that she favors the arguments brought on by XRP lawyers. Today May 17th is a semi key date but according to other lawyers, the real key date is May 20/21 where there is another determination in the case that we should follow closely as it could mean either dismissal or settlement of the case where XRP will not have to admit any wrongdoing but will potentially pay a fine - either outcome is a win obviously.
And seeing how strongly XRP has performed in this recent dip in bitcoin has shown me that XRP is a very interesting protective benefit to any altcoin portfolio. We seek non-correlation to enhance portfolio return and risk - i.e. a higher sharpe ratio. XRP is clearly performing this feat, which is nearly impossible to find inside the crypto space itself for any durationally long period of time.
This is not financial advice.
stocktwits.com/ich1baN/message/330645221 - CEO of Ripple, Brad Garlinghouse, and IMF Chief - Christine Lagarde
If this were some joke of a coin, you would never see these 2 individuals standing in a room next to each other... yet, here they are.
There are key dates as it pertains to the fallacious lawsuit by the SEC which was brought on by a former SEC chair, Jay Clayton, and not the current SEC chair who happens to be pro crypto - Gary Gensler.
The judge has already made indication that she favors the arguments brought on by XRP lawyers. Today May 17th is a semi key date but according to other lawyers, the real key date is May 20/21 where there is another determination in the case that we should follow closely as it could mean either dismissal or settlement of the case where XRP will not have to admit any wrongdoing but will potentially pay a fine - either outcome is a win obviously.
And seeing how strongly XRP has performed in this recent dip in bitcoin has shown me that XRP is a very interesting protective benefit to any altcoin portfolio. We seek non-correlation to enhance portfolio return and risk - i.e. a higher sharpe ratio. XRP is clearly performing this feat, which is nearly impossible to find inside the crypto space itself for any durationally long period of time.
This is not financial advice.
Note
As far as entry goes, be mindful we are still inside the flag, and we could dip as low as $1.31 again - there's still room for 1 more weekly candle, but typical a bull flag setup breaks out before the end of the flag is reached.Note
There's about to be a lot of money poured into XRP... i'm 98% confident the selloff in btc is over since we hit 30 on the RSI on the daily which is a very important pivot point historically.Note
Latest Forbes article on SEC's debacle of a case - a really great read:
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.