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XRPUSD Perpetual Contract

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XRPUSD.P trade ideas

Trend & Pattern Analysis 4 XRP Amidst BTC's Potential Bull TrapTrend and Pattern Analysis for XRP Amidst Bitcoin's Potential Bull Trap Bitcoin's recent surge towards a new ATH has sparked considerable excitement and speculation in the cryptocurrency market. This has pulled back a little and showed some weakness. Amidst this fervor, investors are wary of a potential bull trap or an 'exit pump', where prices inflate briefly before a significant correction. Historically, XRP has exhibited a strong correlation with Bitcoin's movements, often mirroring its price action. Therefore, with Bitcoin poised for a potential surge, the question arises: Will XRP follow suit? Analyzing past trends and patterns can provide insights into XRP's potential price trajectory in the event of a significant move in Bitcoin's price. By drawing trend lines from previous tops and supports, we can identify key levels of confluence that may influence XRP's price action. If Bitcoin indeed experiences a substantial upward movement towards the $80-85k zone, XRP is likely to witness a corresponding pump. The historical correlation between Bitcoin and XRP suggests that as Bitcoin attracts attention and capital inflows, other major cryptocurrencies like XRP tend to benefit as well. Moreover, the confluence of trend lines drawn from previous tops and supports in XRP's price history can offer valuable clues about potential price targets. If these trend lines intersect or converge around a particular price level, it could serve as a significant resistance zone for XRP during periods of heightened volatility. However, investors should exercise caution and remain vigilant for signs of a bull trap or overextended price movements. Technical indicators, market sentiment, and fundamental developments should all be considered in conjunction with trend analysis to make informed trading decisions. In conclusion, while Bitcoin's potential surge towards the $80-85k zone may bode well for XRP in the short term, investors should closely monitor trend lines and key confluence levels to anticipate potential price movements. Caution and diligence are paramount in navigating the volatile cryptocurrency market and avoiding potential pitfalls such as bull traps.
BITFINEX:XRPUSDLong
by joe26130
2
🔥 XRP LEFT THE DESCENDING CHANNEL 🔥Hi! Hope everyone's doing well, if your a regular here then thanks for coming by as always, appreciate it! 🔥 In our last idea we highlighted that descending channel for XRP and pointed out that a lot of what would happen would be in correlation to Bitcoin as well as whether or not we exited the descending channel and that's basically it to keep things short and simple. We got that exit from the channel and since then this sort of ascending channel has formed which I've detailed with the dotted black lines. 🔥 That being said we have exited from the ascending channel and we see exactly what happened with that. We lost both the channel and the 200 day moving average thus we're close to retesting this support here ranging from 0.60-0.61 to gauge whether or not we can regain our footing or if we'll fall further. 🔥 Part of that will likely be on whether or not Bitcoin itself can keep itself grounded above $69,000. Here's the chart below for some perspective: 🔥 I haven't added anything, I've only extended the horizontal lines from the previous post so we're at this resistance point or pivot point right now as some may call it. If we fall back down below 69 I'd expect some volatile movements with a possible drop if we lose the 200 EMA on the lower time frames by which we could see another test of $61,500. After all, we can see that it already did one test of that level before rebounding and exiting it's own descending channel. 🔥 So definitely would recommend keeping an eye on that, it'll likely influence Ripple in the next few days as usual. As for economic events to watch for on the 29th, this Friday Powell will be speaking and we already know how that can sway the market so definitely watch out for some possible volatility depending on what Powell comments, speaks on or about. 🔥 Didn't want to make this idea too long but you get the gist, we're just at another pivot point and we've got these mini channels moving us up and down, nothing too crazy. And all this amongst the SEC asking the Judge to Fine Ripple nearly $2 Billion in the XRP case which alone as it is marks a crazy move by the SEC, they stay being nothing but trouble unsurprisingly. Here's the link to an article on that below: news.bitcoin.com 🔥 Any way I'm leaving the idea at that, there's no clear outlook on things as we're mainly waiting to see if BTC can sustain enough pressure and support to keep above that 69k mark again. I'll leave it there but thanks for coming by as always, really appreciate it you guys. Have a great day and see you all soon! ~ Rock '
BITSTAMP:XRPUSD
by Rocksorgate
3
XRP and the coming new all-time-high.XRP's price has been lagging behind the market, but it makes sense as Ripple has admitted to dumping XRP on retail's head during the rallies. As it stands, the selling of XRP is Ripple's only way to raise capital. However, XRP still remains the only single cryptocurrency on the entire market that has legal clarity. Not even Bitcoin has this, even though it is falsely touted to have such by Bitcoin shills all over the internet. Once the lawsuit is finished, there will be nothing standing in the way of XRP finding true price discovery, and people who have gained massive amounts in other cryptos will be taking profits out and reinvesting them in undervalued assets like XRP. I see a short squeeze from hell coming to XRP very soon! Good luck, and always use a stop-loss!
BINANCE:XRPUSDLong
by MetaShackle