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
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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.
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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.
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Short going as expected. Major support is at 0.000062. When that breaks, XRP is going to continue to fall to sub 0.00004.
Why would anyone follow your TA, your track record is terrible. You got burnt on your last ripple long, and seem a bit sour.
bizi
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@OceanTrader, I understand your statement, but you have to understand that I havent posted anything for 8 months and that was only just the beginning of my crypto journey
bizi
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Short going as expected. Major support is at 0.000062. When that breaks, XRP is going to continue to fall to sub 0.00004.
bizi
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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.
Mastodonic_
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How to spot a very lazy thinker: "increasing 'x' amount would put the market cap above btc"
This is how you spot someone who doesn't understand the market well and you should probably avoid their advice. Here is a very VERY basic concept anyone with half a brain should be able to figure out themselves
Each token does not move it's price in a vacuum. It is entirely feasible that when XRP increases, BTC can ALSO increase. Not just BTC, but the entire market. So XRP increasing 10x does not necessarily mean it will overtake big daddy BTC because by that logic you're implying BTC can't increase itself. XRP has done MULTIPLE 10-20x price movements and it never overtook BTCs market cap. Why?
bizi
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@Mastodonic_, I was speaking in terms of price accoding to XRP/BTC not according to XRP/USD. If it jumps 10x in the comparison to BTC it overtakes it's market cap, as that is basic mathematics, it doesn't matter if the price of btc is 5k $, 20k $ or 50k $.
Everyone is entitled to their own opinion. I argumented mine as both EMA's and Ichimoku are showing bearish signs and also the repeating fractal pattern is taking place.
Take care
philrego
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My thoughts exactly. They really slammed that fib level last night to short. I'm shorting as well. See you at 60 cents
bizi
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@philrego, I'm glad we both share the same perspective :D
It's an unpopular view but I'm pretty sure its the right one.