XRP Short Term Outlook - Possible Price Targets

XRP Corrects While BTC Takes Break

The short-term outlook shows a slight decline in price while overall XRP looks more bullish than it has since the 2018 run. As the volume profile shows 3 definite clusters peaking at 0.30, 0.286, and 0.272 as indicated on the chart. These are possible price targets for the next few days as BTC takes a breather. There is always the possibility of settling back down to the current POC (point of control) price at 0.25 (red arrow).

The on-balance volume shows a lot of heavy distribution since the recent peak. Profit taking looks strong, but the OBV does appear to have settled down at the previous level which is a good thing. The stochastic is weak, and currently shows a possibility of continued downward movement.

If the next surge in Bitcoin takes it to the all-time high of $20,000, we could see a surge back towards 0.30 or higher. But it could also spark movement away from XRP and into BTC. I’m waiting and watching, taking note of when the next big correction takes place to time another buy.

Once we hit the final BTC correction, which in my opinion could happen at any time OR if and when BTC reaches $20k, I’m looking for a strong correction across the board in the alt market. Once the alts settle down from the current surge, this could be the final major correction before an “alt season” starts.

I am definitely waiting on the sidelines not placing any buy orders until we see that correction take place, although there is no guarantee that it will happen. Until it is clear, I’m taking a cautious stance to maximize my own accumulation before the next surge sets in.

Carlton Flowers
The CryptoPro

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NOT FINANCIAL ADVICE - Entertainment purposes only. Seek a qualified investment advisor before making any decisions on purchasing cryptocurrencies. The crypto market is very volatile, and trading can be dangerous and detrimental to your financial situation. Proceed with caution.