XRP is trading in a, $0.06 (cent) range denoted by UGLY the blue rectangle in the chart. I recommended in a previous review that I am comfortable adding to my position at the base of the rectangle. That price is at or less than $0.28623 on Bitfinex. I have stated in the past that I think XRP is a decent long-term hold under $0.30 (cents).
Technical Information:
The overhead orange trendline, denoted by the letter “A” has 3-data points with two unchallenged and 1 point breached. When a trend is breached it carries less weight to me and becomes a reference.
The primary orange dotted support trendline is intact and has not been breached giving the primary dotted support trendline significant weight.
I drew a small green support trendline which is running right into the overhead trendline (“A”) setting up a possible volatility squeeze.
Point-of-Control (POC) for the timeframe displayed is denoted in the medium red line at $0.37975 (this will move during heavy volume, so POC is good as of this posting date and time.)
The lower trendline “B” is a guesstimate and only a reference to give the chart some symmetry.
Outlook:
XRP is moving with declining volume nearing the overhead resistance level “A” and holding support on the green trend below. If the green trendline holds an increased probability of volatility squeeze. It sure looks like one is due very soon. I can see 2-other volatility squeezes in the rectangle but didn’t display them as to not clutter up the chart.
My alerts are set for the base of the rectangle at $0.28623 and on the orange dotted primary trendline below. A breach of the base of the rectangle will initiate small buys.
I believe the bots are tracking the overhead trendline (“A”) and the Orange dotted Primary support trendline.
The green line in the middle of the rectangle is a significant support and resistance price level! It's just a reference point to separate the lower and upper half of the rectangle.
My Strategy:
I am accumulating XRP under 30-cents. I would recommend you set some buys for 24-cents or lower in the event we get a Fat-Fingered trade and the price drops precipitously. If you own XRP, I recommend you place a sell at 45 cents, or one penny less than the opening of the channel for the same reason. Just look back through the chart and see how many times these trades have happened and without being set up properly you will not have a chance to get in on the action, however, remote the chances are!!!!
In Conclusion:
This is a simple chart with nothing really going on. It looks a bit Bearish to me, but that’s okay, cuz it’s cheap and I am accumulating. I just want my 20 percent and let some ride for the long haul.
If you’re new to my charts, follow me for more insightful TA, and throw me a Thumbs Up if you find my written analysis worthy of your time. I am on Twitter where I have some fun and get to communicate with some good people!
Best,
Biff
Technical Information:
The overhead orange trendline, denoted by the letter “A” has 3-data points with two unchallenged and 1 point breached. When a trend is breached it carries less weight to me and becomes a reference.
The primary orange dotted support trendline is intact and has not been breached giving the primary dotted support trendline significant weight.
I drew a small green support trendline which is running right into the overhead trendline (“A”) setting up a possible volatility squeeze.
Point-of-Control (POC) for the timeframe displayed is denoted in the medium red line at $0.37975 (this will move during heavy volume, so POC is good as of this posting date and time.)
The lower trendline “B” is a guesstimate and only a reference to give the chart some symmetry.
Outlook:
XRP is moving with declining volume nearing the overhead resistance level “A” and holding support on the green trend below. If the green trendline holds an increased probability of volatility squeeze. It sure looks like one is due very soon. I can see 2-other volatility squeezes in the rectangle but didn’t display them as to not clutter up the chart.
My alerts are set for the base of the rectangle at $0.28623 and on the orange dotted primary trendline below. A breach of the base of the rectangle will initiate small buys.
I believe the bots are tracking the overhead trendline (“A”) and the Orange dotted Primary support trendline.
The green line in the middle of the rectangle is a significant support and resistance price level! It's just a reference point to separate the lower and upper half of the rectangle.
My Strategy:
I am accumulating XRP under 30-cents. I would recommend you set some buys for 24-cents or lower in the event we get a Fat-Fingered trade and the price drops precipitously. If you own XRP, I recommend you place a sell at 45 cents, or one penny less than the opening of the channel for the same reason. Just look back through the chart and see how many times these trades have happened and without being set up properly you will not have a chance to get in on the action, however, remote the chances are!!!!
In Conclusion:
This is a simple chart with nothing really going on. It looks a bit Bearish to me, but that’s okay, cuz it’s cheap and I am accumulating. I just want my 20 percent and let some ride for the long haul.
If you’re new to my charts, follow me for more insightful TA, and throw me a Thumbs Up if you find my written analysis worthy of your time. I am on Twitter where I have some fun and get to communicate with some good people!
Best,
Biff
Comment:
DOH, Am I really that good?
