XRP/BTC is approaching a resistance zone (3260 – 3400 Sats). If we can break above this resistance zone and it flips support I expect a continuation for XRP/BTC. However, the signals are indicating that in the short term we most likely won’t break above these levels decisively.
The main reason is that Bitcoin is right now trading below the 20 WMA. Which usually creates uncertainty which is bearish for alt-coins (short term). When Bitcoin has found a bottom I expect to see more strength in the alt-coins.
How to trade XRP ?
If XRP/BTC can break above the resistance zone, you could enter at a re-test of that level. Buy entry would be at : 3300 – 3400 Sats
If you’re bullish on XRP you can also consider to set some entries right now and anticipate on a correction coming days/weeks. If we get rejected at the resistance zone we could be coming down testing important fib levels.
The buy entry would be between the 50% and the 61.80% (1650 – 1900 Sats)
Once XRP broke out and we are seeing strength back into alt-coins we can reach the following targets :
1st Target : 4057 Sats
2nd Target : 6247 Sats
3rd Target : 8825 sats
4th Target : 11441 Sats
I would recommend to wait for a clear break and re-test to enter XRP/BTC as the Bitcoin dominance chart is indicating a bounce.