XRP Finally Retests Major Resistance As Support! (XRP/ETH)
Ladies and gentleman, I give you a long overdue update on the XRP/ETH pairing. Last September, I swapped the ETH I had bought at $215 for XRP when it had broken out of the 15000 major long term resistance area. Then, I ultimately purchased ETH separately at $107. In any case, I mentioned that eventually XRP may have to retest that 15000 area as support. We've finally done it. Here, it'll be interesting to see if XRP can go on a long overdue run and reclaim the #2 spot again, if only briefly. Perhaps it can even reach a new ATH on the ratio (targets at green X's).
I guess we'll see. On the downside, if the 15000 area breaks, the next support is around 11000-12000. Below that would be 9000. If you know my style, I like to look at all the pairings of a coin to analyze its potential. I need to see where money is flowing from all angles in the market. To me, it's clear that traders profited immensely from that breakout in September, and are now getting satisfied with their ETH profits. It should be noted that XRP has still outperformed ETH since September 2018. The 26000 level is where XRP begins to surpass ETH in terms of market share.
Here are my first two XRP/ETH charts for reference:
Where I claimed that massive ETH profits could be taken and to watch for a retest of 15000
This is not financial advice!
-Victor Cobra
I guess we'll see. On the downside, if the 15000 area breaks, the next support is around 11000-12000. Below that would be 9000. If you know my style, I like to look at all the pairings of a coin to analyze its potential. I need to see where money is flowing from all angles in the market. To me, it's clear that traders profited immensely from that breakout in September, and are now getting satisfied with their ETH profits. It should be noted that XRP has still outperformed ETH since September 2018. The 26000 level is where XRP begins to surpass ETH in terms of market share.
Here are my first two XRP/ETH charts for reference:
Where I claimed that massive ETH profits could be taken and to watch for a retest of 15000
This is not financial advice!
-Victor Cobra
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