ridethepig | XRP -25% Correction In Play!XRP buyers... Creatures of habit, that love warmth of familiarity. By keeping the smell of the past alive they commit to more exposure only to later have the rug pulled again. This does not change the state of play for BTC, those following the long term diagram in BTC have started to reach the first profit taking area and with that XRP like a farmer who has lost his piglet, looks particularly vulnerable with shorts looking attractive here.
Well done those who have been riding the pig so far in XRP; it is a very good gage for the collateral although I have full disclose that not a dime was made on this leg:
You notice how we entered into buyers jurisdictions and smart money saw the investment, any sellers did well to liquidate there:
Buyers have made the tempo move and successfully developed the trend. But, unfortunately from time to time, other dubious tactics are tried: the retrace in order to take profit and shake out late retail buyers, and keep on doing so until the day arrives when you have to play the same sizes on both sides...not a move for newcomers, we have to hold the highs as reference as mere stop gaps will not help. We'll update the chart as things go along.
GL
As usual thanks for keeping the support coming with likes, comments, charts and etc!
