Ripple holds support
On November 26th the following daily scenario was proposed:
We stated that:
The bullish case will remain valid as long as the price stays above the lower rising triangle boundary.
Ripple bounces and breaks to new high
Yet Ripple moved back somewhat dipper than anticipated to precisely hit the support that firmly held as envisioned, but from there Ripple reversed abruptly and raced up breaking all resistances on its path and taking out the previous historical top at $0.4 to a new record price of $0.45:
For now Ripple is consolidating its up move and any set-back could be exploited to open long positions. The long scenario will now remain valid as long as the Ripple price stays above the bottom of the weekly candle under formation at $0.22255. Then expect more upside since now:
Ripple to Outperform Bitcoin
We previously postulated that Ripple was going to outperform Bitcoin:
It looks like the expected trend reversal is now in progress since it is not only Ripple moving up vigorously but also Bitcoin appearing to be digesting its insane bull run into the $17,000 price zone.
Then if anticipating a corrective move of the Bitcoin price has made a fool of anyone including myself, it may appear as a less risky proposition to buy the Ripple/Bitcoin ratio rather than selling Bitcoin notwithstanding the price of Bitcoin.