Earlier today, the third-largest currency, XRP, showed a 10-percent decline, along with EOS, Cardano and Stellar. Following the sudden retracement of Bitcoin on the charts, other altcoins on the top-10 list have been losing value too.
However, traders remain bullish on XRP, saying that BTC and XRP are taking a break now to rise higher later on.
‘XRP targets $0.4 - $0.5’
The crypto trader known as ‘Joker’ is being bullish on Twitter on XRP. He says that as per the Elliot Wave theory, wave 4 on the XRP/USD pair is almost here. Wave 5, he tweets, is likely to take the XRP price up to the $0.4-$0.5 levels.
He adds that the current reversal of the coin does not matter, even if the price hits $0.23 on the rollback.
“#xrp at $0.33: I got too many DMs asking if they left behind! I said, wait for it! Many said It never goes below $0.3! Now, #xrp is in the buying zone! $0.23 or $0.26 or $0.28, who cares!
#bought the #dip! #xrp targets $0.4 - $0.5.
#educateyourself #learn #trading #xrpcommmunity”
Trader @BTC_JackSparrow shares the bullish sentiment and says that he has bought some XRP while the price is low.
‘The BTC, LTC, XRP Boeing is down to fuel up’
At press time, the first three largest currencies are in decline, all three going down after a massive recent price surge. Twitter user ‘Cryptoboy’ is commenting on it, saying that Ethereum and XRP prices are decreasing fast.
Meanwhile, trader Marius Landman believes that the retracement is just temporary. He writes that BTC, XRP and LTC are just down to get some fuel before they resume their rise.