$XRP sits inside the Golden Pocket, supported by the 50MA directly below. What I pointed out yesterday has been playing out exactly—the Pocket acts as resistance when approached from below.
I still don’t expect XRP to start flying soon due to the unlocks (300 million coins ‘freed’ a few days ago). Also, due to the current consolidation—which started only 19 days ago after the price hit the cycle high—and the previous consolidation after hitting $2.91 on Dec 3 went on for 39 days.
So, best to prepare for another two or three weeks of sideways, choppy price action. Use the time to accumulate at lower prices—the volatility is not gonna go away quickly due to the current political storm.
Buy-the-dip levels that make sense:
$2.50 support – That’s only 6-7% below, still a decent discount at a strong technical level.
$2.25-$2.30 – Much safer option as long as $BTC doesn’t lose $95K support.
$1.90-$2.00 – Hoping for another flash crash if BTC revisits its range low around the $91K mark.
Positioning in advance at these last two levels is key due to the Army’s buy-the-dip culture and conviction. If XRP gets another correction similar to the recent one, buyers are very likely to step in again.
If one doesn't prepare in advance, unlikely that they will get to reap the rewards. Just saying.
busy day for me