Crypto sold off last night. The drop looked brutal but in the end it was a regular retracement. Specifically XRP which has been doing great lately dropped to test what we would call a very bullish technical indicator: its 10 day moving average. This is a healthy drop nothing wrong with it. It is even good that these retracements happen on the way higher. We still firmly believe in our ultra bullish XRP forecast, and did repeat this formally to our premium cryptocurrency investing members. Moreover the entire crypto space looks gorgeous at present day, exactly in line with our crypto predictions for 2020.
What many investors forget is that corrections in a powerful bull market are absolutely necessary. The question is until which point does a correction go.
On the XRP chart we identified a drop until the 10 day moving average as seen on below chart.
Rest re-assured this is greatly bullish provided it holds. There is even a bit more downside possible without losing any of the current bullish characteristics.
All of our recent XRP writings are still valid:
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