Token : $XRP
People are being too much positive on XRP. I'm not going 100% against it, but there are some key factor everyone should focus on. Market cap of XRP is 209B today which is roughly 50% away from $ETH market cap. so my point is if you want XRP to rise 100% from here, it's market cap needs to suppress ETH's market cap which is not logically possible until ETH's market cap exceeds 600 billion dollars. So even though XRP being strong at this price level, it's not possible for XRP to become second largest token on the market suppressing ETH.
So think logically and trade on XRP before you experience disaster. I'm seeing a bearish divergence on XRP weekly time frame. Also the breakout was not that strong and I don't see any institutional entry on XRP in recent bull run. I'm being extremely negative on XRP, harmonic pattern also suggests a short position from. So focus on ETH and go short on XRP if market pullbacks from here for a correction. GOING SHORT ON XRP.
Trade setup :
Signal : SHORT
Entry : 3.5
target 1 : 3
target 2 : 2.8
stop loss : Above 4.05
Note : Future trades are highly risky so make sure to manage your fund perfectly before taking any future positon.
