Ripple ,the new king is back XRR/BTC (just kidding)
Ripple is showing simmilair fractal pattern as it did 8 months ago. People are buying the hype because they think it has potential to grow more than 10-20x eventhough that would put it way above Bitcoin total market capitalization.
I used to be the same and I used to have huge position in XRP hoping it will jump very hard eventhough it was just as unrealistic then as it is now. Back then I didn't understand bull / bear cycles and it was hard for me to say that the coin is showing bearish signs.
Right now, we can see that XRP honored the golden 61.8% retracement and bounced back from it, eventhough each of its bounce back made lower high. We can see that the volume is decreasing as the buyers are slowly fading away and letting this coin retrace to sub 5k satoshi area into our buying zone.
Both EMA's and Ichimoku Clouds are also showing bearish signals so I think Ripple is going to have a very long and slow fall.
Enjoy your day,
bizi
I used to be the same and I used to have huge position in XRP hoping it will jump very hard eventhough it was just as unrealistic then as it is now. Back then I didn't understand bull / bear cycles and it was hard for me to say that the coin is showing bearish signs.
Right now, we can see that XRP honored the golden 61.8% retracement and bounced back from it, eventhough each of its bounce back made lower high. We can see that the volume is decreasing as the buyers are slowly fading away and letting this coin retrace to sub 5k satoshi area into our buying zone.
Both EMA's and Ichimoku Clouds are also showing bearish signals so I think Ripple is going to have a very long and slow fall.
Enjoy your day,
bizi
Note
Ripple short is going as expected. As we can see here, the EMA's have crossed which indicates a bearish trend. XRP keeps on making lower highs and is reaching a very critical support at 9k satoshi. It might fight this support for couple of weeks, but in my opinion, due to the lack of volume, it will eventually break and slowly start to die.
Also Ichimoku cloud confirms analysys on a baerish trend. Every indicator is showing that the bearish trend is happening + the fractal pattern is taking place.
Note
As mentioned in previous update. Ripple keeps on making lower highs and lower lows. The critical support at 9k satoshi didnt hold and short is going very good. It did a fake bounce off the support, or so called "bull trap".
We are allready 30% up from the first call, so if anyone wants to take profits on it they can, eventhough I think it will go even lower in the next few months.
As I said before, it's slowly dying. Volume is falling and considering everything it should fall lower, but taking some profits just in case is never a bad idea in my opinion.
Note
Short going as expected. Major support is at 0.000062. When that breaks, XRP is going to continue to fall to sub 0.00004.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.