XRP Advances to Historically Unsustainable LevelsThis is pretty much an automatic trade; old guard alts always pump suddenly but regress long-term vs BTC. It's like having contango in your favor (hello USO shorts).
The problem with shorting alts is the pumps can go on for some time and break you unless you're only shorting with a small % of your account and on low leverage (5x or less). The other problem is alts with defi capabilities such as BNB, Ethereum, Uniswap, and Polkadot have NOT shown long-term regression vs BTC and are thus NOT safe to short.
I prefer to short coins like EOS, Tron, and XRP that have had every opportunity to prove themselves over many years and have failed to do so; these are basically garbage. If you look objectively, banks don't want to deal with XRP; they'd much prefer a stablecoin. The other great thing is that stablecoins built on Tendermint (UST, BUSD) or another interoperability protocol, such as Polkadot, will potentially be able to swap directly with stablecoins created by banks in the future. Stablecoins and multi-asset chains like Polkadot - and wrapped BTC as a store of value - are the future of cryptocurrency and will do much better what XRP was meant to do IMO.
XRP, EOS, and TRON are the long term regression candidates that are safe to short if you have the liquidity to hold the short through volatility. When it comes to trash alts that have been bypassed by the defi surge, what goes up, must come down.
