- December 29, 2020
- Posted by: Tradingshot Articles
- Category: Uncategorized
A lot of talk is being done lately on XRP and its recent sharp sell-off that took most traders by surprise. This panic selling is fundamentally driven by the recent news and I believe the tension isn’t over yet.
Today I want to focus on the technicals though and the 1W chart. This shows that long-term XRP investors shouldn’t panic and this selling was also seen on the previous cycle. In fact it was the last before the massive rally of 2017.
In my opinion there is an opportunity to buy XRP even lower (the current price is good enough as it is for long-term investors), either within the 0.786 – 0.9 Fibonacci retracement level or within the LMACD Buy Zone.
History will repeat itself. Keep a clear head and follow your investment plan.
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