10-1 risk / reward ratio is why Raoul Pal owns XRP – price ready to test at $ 0.9
Raoul Pal, CEO of Real Vision, explains why he became an XRP hodler and how to recognize the risk / reward ratio of the altcoin.
Pal said in a recent interview with Thinking Crypto that he bought a position at XRP about a year ago, with the U.S. Securities and Exchange Commission (SEC) lawsuit against payment company Ripple being a major contributing factor.
“I bought it because a) it has use cases and is being used, and b) the lawsuit presents a magical risk / reward.
It drops in price a lot and then I look at it and think, ‘Wow, where is it going? 100% discount from here on 0? But when the lawsuit is settled, it increases tenfold. “And I found ‘that’s undisputed’. Why don’t you accept a risk / reward ratio of 10-1 surrounded by a catalyst?”
The SEC filed a lawsuit against Ripple last December alleging that the San Francisco-based payment company sold XRP as an unregistered security during its launch. The regulator claims that XRP is a security to this day.
Pal said his XRP bet is wholly subject to lawsuit.
“It’s all about this case.
Because the price could not determine the direction – it was delisted everywhere. It doesn’t stop until the case is resolved because the richest and most powerful nation on earth does not allow easy investments in it. ”
What is the price of XRP at the moment?
XRP price, like most other cryptocurrencies, has shown strong signs of recovery after Saturday’s flash crash ended. A strong rebound from the lows could trigger a new uptrend for XRP.
XRP price has held strong support near the $ 0.83 value area since Sunday. Concerns about downside pressure remain, but XRP’s bullish behavior shows significant buying volume.
There is a hypothetical long trading opportunity on the chart and a reversal point of $ 0.05 / 3-box from XRP. Entry is a buy stop order at $ 1.05, a stop loss at $ 0.85, and a profit target at $ 1.75.
The entry-point based on the point-and-figure pattern is known as a bearish shakeout. This pattern is only valid if a trend reversal is expected and positioned for it. The 2 cell stop will help protect implied gains.
XRP $ 0.05 / 3-box figure and reverse graph
When a hypothetical long entry is triggered, traders should expect some resistance in the $ 1.15 and $ 1.25 areas before a significant uptrend emerges.
Bulls should note that the downside risk remains the ongoing SEC and Ripple lawsuit as the biggest unknown for XRP.
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10-1 risk / reward ratio is why Raoul Pal owns XRP – price ready to test at $ 0.9
Raoul Pal, CEO of Real Vision, explains why he became an XRP hodler and how to recognize the risk / reward ratio of the altcoin.
Pal said in a recent interview with Thinking Crypto that he bought a position at XRP about a year ago, with the U.S. Securities and Exchange Commission (SEC) lawsuit against payment company Ripple being a major contributing factor.
“I bought it because a) it has use cases and is being used, and b) the lawsuit presents a magical risk / reward.
It drops in price a lot and then I look at it and think, ‘Wow, where is it going? 100% discount from here on 0? But when the lawsuit is settled, it increases tenfold. “And I found ‘that’s undisputed’. Why don’t you accept a risk / reward ratio of 10-1 surrounded by a catalyst?”
The SEC filed a lawsuit against Ripple last December alleging that the San Francisco-based payment company sold XRP as an unregistered security during its launch. The regulator claims that XRP is a security to this day.
Pal said his XRP bet is wholly subject to lawsuit.
“It’s all about this case.
Because the price could not determine the direction – it was delisted everywhere. It doesn’t stop until the case is resolved because the richest and most powerful nation on earth does not allow easy investments in it. ”
What is the price of XRP at the moment?
XRP price, like most other cryptocurrencies, has shown strong signs of recovery after Saturday’s flash crash ended. A strong rebound from the lows could trigger a new uptrend for XRP.
XRP price has held strong support near the $ 0.83 value area since Sunday. Concerns about downside pressure remain, but XRP’s bullish behavior shows significant buying volume.
There is a hypothetical long trading opportunity on the chart and a reversal point of $ 0.05 / 3-box from XRP. Entry is a buy stop order at $ 1.05, a stop loss at $ 0.85, and a profit target at $ 1.75.
The entry-point based on the point-and-figure pattern is known as a bearish shakeout. This pattern is only valid if a trend reversal is expected and positioned for it. The 2 cell stop will help protect implied gains.
XRP $ 0.05 / 3-box figure and reverse graph
When a hypothetical long entry is triggered, traders should expect some resistance in the $ 1.15 and $ 1.25 areas before a significant uptrend emerges.
Bulls should note that the downside risk remains the ongoing SEC and Ripple lawsuit as the biggest unknown for XRP.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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