XRP/USDT - Long

20. Nov. 2023

XRP/USDT - Trade idea. Recently, XRP has been a laggard in the market, whilst all other altcoins are pumping 5-10% on a daily basis, XRP has been pretty stagnant. We witnessed a pump in price last week to $0.755 upon the false news release of Blackrock filing for an XRP ETF.(We caught the pump in the FX + Crypto group.) We are now seeing a 4h downtrend, which in my opinion should be broken shortly - providing the market continues moving bullish. We have entered an XRPUSDT Long position here at around $0.6240 targeting $0.75. This could be a conservative target for XRP but we do believe this wick that was created on the fake out will be filled. I will be adding to my positions upon confirmation of the downtrend being broken.