$XRP ... the DIP is happening, buy it or not to buy it
2025-02-07
Category: None

CRYPTOCAP:XRP  one day later, and we are at the next stop: $2.25-$2.3. A few days ago, I warned about the Golden Pocket acting as strong resistance (hardened by the 50 MA), yesterday I warned about losing the $2.5 support, and today XRP penetrated the second support zone.

Is this the time to buy the dip? The support is holding okay, and this is already 30% lower than a week ago when I shorted $3.12. Quite a discount. I would be tempted to add to my spot holdings here if I hadn't done it last Sunday/Monday.

Ethereum has been holding its support, the DXY has been correcting. This could be the lowest that XRP drops. Keep in mind the selling pressure from unlocks (300 million coins freed on 1 Feb). I would definitely not enter any leveraged positions here, but I’m also a bit biased after opening them much lower during the recent flash crash.

So, my only positions are waiting to be triggered—again, much lower—both spot and long leverage, between $1.91 and $2.

I don't think we will see these prices anytime soon, unless something happens on the news front or Bitcoin suddenly crashes to the range low again. But again, it costs nothing to have positions waiting.

Also, entering here means entering in a downtrend with bearish momentum. Not for me—I’ll just patiently wait for another flash crash. This strategy also works great for my peace of mind, knowing that the Army will have my back, ready to buy dips below $2, as they showed each time. 💙👽


PS. I publish my stuff regularly on Binance SQUARE, more images are allowed there, and no cap on a number of posts/updates, unlike here. With this post, I have included the DXY chart, and a meme, because laughter is great for you, especially during DIPS :); Check it out:

app.binance.com/uni-qr/cpro/Square-Creator-52b223424?l=en&r=81770287&uc=app_square_share_link&us=copylink