Alot riding the XRP train! Alllllll aboard!

BITFINEX:XRPBTC   Ripple / Bitcoin
Alright so there is a lot of hype around XRP (Ripple ) right now as we see some major spikes (there is also a lot of hate towards this coin) whichever side you're on here is a possible outcome of what we can look forward to in the future.

I've charted out for us from the last major spike and I have labeled this chart short since were not quite sure where BTC is headed at the moment so trying to keep most my TAs on the short side. The RSI is oversold at the moment, The MACD is spreading apart which usually means topping out. Anyways the targets are as followed and I put the Yellow box for a larger target range so that you can decide when or if to sell when you feel most comfortable.

Target 1: 94,595
Target 2: 110,406
Target 3: 136,000

In the screenshot Lets start with the 2 most recent poles looking at this I see an upward trend line that I have drawn in white at the top of the wicks and to go along with that I have drawn in white the downward trend line on the RSI indicator. This is usually a good indication that we are going to see a retrace. I have marked the retrace between the .5 and the .618 lines on the FIB indicator (in yellow) as most times then not this is where the fear sets in and the buyers buy causing the price to shoot up. With that being said were looking at re-entry around 77670 sats .

Again this is just an opinion based on Indicators in no way is this advice on whether you personally should sell or buy please trade responsibly. Shoot me a like and or a follow if you like this chart so I can continue to do more.

CryptoLeroyJ out!

Trade active: Ok so we didn't quite reach the target zone for buy in. Hopefully everyone saw the base of the bull flag forming and decided to get in on this when we were close to the target. I wasn't able to update it before the flag broke out though.

To target 1 we go friends enjoy the ride!
Comment: Also as CoryBourgeois pointed out I marked this as a short but clearly this is a long my apologies.
Trade active: Targets 1 and 2 have both been reached hope everyone has enjoyed the profits thus far. Target 3 is a bit of a reach but we may still get there. The Fib Lines have been pretty generous to us on this chart and I will continue to do more like this (with the correct tags next time haha)
hey bud do you understand what the term SHORT means in the trading world? you should look it up... This is a Long trade
+1 Reply
CryptoLeroy CoryBourgeois
@CoryBourgeois, yeah I ended up doing longer targets then originally anticipated but forgot to change it. thanks for letting me know though.
rockmancuso CryptoLeroy
@CryptoLeroy, in the financial world, a "short" (or "short position) indicates you believe the given asset is going to decrease in value. "Long" (or a "long position") indicates you believe the given asset is going to increase in value. So, when creating ideas on TV, your viewers may get confused when they see 'SHORT' in the title and your idea indicates that you believe it's going to rise. It really doesn't have anything to do with "short-term" or "long-term" targets, FYI. Just to be clear ;-)

Thanks for the analysis!
+1 Reply
CryptoLeroy rockmancuso
@rockmancuso, yeah ha I posted a comment about 4 hours ago I think apologizing about the short tag I was a little confused about it at first still learning everyday so thanks to both you and @CoryBourgeois for letting me know. Ill make sure to use the correct tag in future TAs
rockmancuso CryptoLeroy
@CryptoLeroy, no worries man we're all constantly learning!
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