It was at least two weeks that we claimed that XRP would come to test 3000 satoshi and, finally, this happened on Monday; unfortunately, however, yesterday when this currency completely dried up the profits accumulated on Monday.

Now the situation has become particularly complex, also because the price has slipped much lower than on Monday's opening and on some exchanges the bears have even managed to generate a jump between yesterday's closing and today's opening; at the moment the feeling is that a return to 2750 satoshi is the most likely scenario in the short term, however the market situation is quite an unknown, so it will be better to go immediately and take a look at the charts.

BTC / XRP harsh reaction of bears

Needless, of course, to look at the monthly and weekly charts because the only thing we will see is a bearish candle emptied of the profits accumulated on Monday; there is still time to recover, however, and probably by the close of the weekly candle XRP should have managed to recover a little something.

On 1D chart, of course, the bad opening today still served to generate a big bullish divergence so, if we stopped at the daily chart, the advice would undoubtedly be to buy today as soon as possible; on the other hand, on 4H chart, the bearish tension has not yet ended.

Personally I would almost take for granted a recovery in prices starting from the next few hours, at the latest from tomorrow, however I would not know if the price will stop around 2750 satoshi (then retrace), if it will touch the maximum on Monday (for later be violently rejected) or if it manages to break it; the feeling, however things go, is that it is a good time to buy aiming to make profit in the short term.

Weekly forecast

As mentioned, the current one seems to be a good time to buy, with the price that has slipped lower than on Monday's opening, we can be almost sure that the bulls will repair the losses, what we cannot be sure of is how much; the risk we run is that in the face of a 10% rise in price, you then go back to deflate very quickly.

In all this to make things even more worrying there is bitcoin which seems to have returned very exuberant and which could send all the alt in deep red if it managed to remain permanently above 8 thousand dollars, a threshold beyond which, as we have managed to repeat often in recent weeks, we must necessarily go back to having a bullish approach to this currency.

Please note: this post is not intended to provide in any way financial advice related to how to invest your money but it is purely educational