We're approaching the probable bottom on XRP chart. This is 3M chart. Evidence suggests that if the price of XRP closes above this support, we highly likely have a bottom. The case for the bottom would be even stronger if we don't witness any monthly candle moving forward closing below 0.95$ - 0.93$. While we could witness wicks of the monthly candles going below 0.95$ - 0.93$, the important thing is candles closing above the said support.
From the looks of things, we have highly likely arrived at the end of the bear market for crypto. It's likely we will witness a decent rally from the bottom and likely some period of consolidation, however the bottom should be in at that point.
Whether future resistances will be mentioned here isn't yet decided, but likely will not.
From a long-term investor's perspective, resistance levels aren't particularly important. While some traders may choose to sell at resistance and buy back during a pullback, long-term investors are focused on the bigger picture.
Those of us who believe in XRP and the broader crypto market invest today because we expect the market to recover over time. The goal isn't to watch the charts every day, but to be positioned before that recovery happens.
We are doing our work now, so we can enjoy later, and not be bothered by noise. Dealing with the noise is what traders do, not investors.
From the looks of things, we have highly likely arrived at the end of the bear market for crypto. It's likely we will witness a decent rally from the bottom and likely some period of consolidation, however the bottom should be in at that point.
Whether future resistances will be mentioned here isn't yet decided, but likely will not.
From a long-term investor's perspective, resistance levels aren't particularly important. While some traders may choose to sell at resistance and buy back during a pullback, long-term investors are focused on the bigger picture.
Those of us who believe in XRP and the broader crypto market invest today because we expect the market to recover over time. The goal isn't to watch the charts every day, but to be positioned before that recovery happens.
We are doing our work now, so we can enjoy later, and not be bothered by noise. Dealing with the noise is what traders do, not investors.
Attached Image (click to enlarge)
