XRP isn’t the most popular cryptocurrency on the market, and for that sole reason it’s severely underbought. This means there is still a ton of great opportunities to jump in, but if you want to catch the next moonshot you’re going to have to hurry up. It looks as if XRP is breaking out and it could be the start of its next push to $2. Meanwhile, Holo (HOT) looks like it could be about to follow suit, climbing higher and provide us with a good opportunity to trade profitably.
XRP Breaking Out
XRP has been an outstanding performer so far this year, shaking the effects of the wider market and making its own luck. XRP has now completed the bullish three drives sequence and is now forming outside of a descending triangle, meaning we’re in for a big pump here. We’re fully expecting XRP to push its way to the $0.48 level in the coming days, so get your orders in asap. We’re looking at an ideal buy zone of between $0.43 and $0.45 – paying any more than that for XRP at this stage and the short-term gains aren’t worth it.
We’re setting up a stop loss down at $0.40, and while this seems rather low, XRP does have a tendency to break pattern briefly then get back on course. This will avoid any positions getting liquidated before it picks up again. Consider taking profits off the table at the top end of $0.47 and if momentum carries it close to $0.50 consider closing the position.
HOT is Locked and Loaded
Holo is one of those cryptocurrencies that doesn’t often make it into the media, but its token is looking set to experience bumper gains. Earlier this month, we saw HOT hit its bottom of $0.005 and it went parabolic from there, enjoying a mega rally all the way to $0.01. Since then, HOT has sprung to life and has been rather choppy, but this simply means there is a good deal of interest, as well as support and resistance. We saw this happen before the last drop down to $0.005 and it’s slowly creeping back down there. If the charts carry on the way they’re currently looking, we could see if fall down to the mid $0.006 region before going parabolic once more.
We’re going to set a target buy range of between $0.0063 and $0.0060 – a highly possible price range in the coming days. We’re also setting up a stop loss down at $0.0048, as when it reaches this level it appears to bounce back very well thanks to the huge level of support. Consider taking profits off the table around the $0.009 level, while leaving a little to carry on riding all the way to the top end of $0.01 mark.
They might not be the two biggest cryptos on the market – or the two most popular – but they’re certainly ripe for massive gains. Just make sure you set up your stop losses according to your own risk appetite.
