We have been keeping a close eye on Ripple recently, as price peaked after a corrective move on 18th January 2018 at 1.6850. Since then, price has begun trading within a descending resistance structure.
At current, price is trading at 0.7760, whilst approaching a very nice horizontal support structure. At the support zone, there is also potential for the 200 major moving average to be a support, which implies when price bounces into this zone, we could see a nice upside reversal to the highs. If price breaks at this major support, this would show some quite serious concern for Ripple, we breaking such a strong support would show a shattering weakness in the pair.
Price will eventually pick up some momentum. Ripple needs to break the side-wards resistance structure at 0.9100, before any real upside pressure will be felt. If price breaks below the horizontal support at 0.7220, then it could break very low, into the major lows of 0.20 (although unlikely it's key to keep an open mind).
Bare in mind, that a break below the first support is bad news. And Ripple will become enslaved into a technical downtrend where fundamentals could be shoved until the technicals "come into play".
I will update this analysis when I receive above 40 likes.
@TomProTrader hey I'm with you here. I think that we see the breaking free of several alts from BTC in 2018. XRPUSD is one of it. But I also think that we will see 0.30 or lower. Next days really buying opportunities will occur.
bigLITTLE
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Horseshit.
TomProTrader
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@bigLITTLE, The only way this can be "horseshit" is if you think it will drop to 0? Do you think that?
bigLITTLE
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@TomProTrader, Look at the fundamentals, look at this chart also.
Many HODLers has been liquidated. I don't want to write a long sentence. But, you should look at the market confidence and look at the XRPBTC technical point of view.
I am certain most of Bitcoin laggards think Bitcoin is a scam as we speak. The market confidence is so low even Ripple will be squashed. However, I do believe Ripple will play its role in the coming day but its not simply in a month or two.
TomProTrader
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@bigLITTLE, Please only post analysis directly applicable to my actual analysis.
I think our opinions differ. My theory is based on technicals, yours is based on some future speculative reaction not yet headed.
Thanks for sharing nonetheless.
bigLITTLE
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@TomProTrader, Blinded by techincal. A classic way to suffer huge losses.
TomProTrader
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@bigLITTLE, Like I said, only if you think it's going below 0, my analysis can be wrong.
For some reason you've said a lot without reading my analysis. Please read the analysis before commenting to avoid this, and also to keep comments under the ideas constructive.
Read my above analysis once more, I hope you'll get it this time. :-)
TomProTrader
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@bigLITTLE, Oh, and if you actually took the time to read my latest analysis before putting your ego in front of it, you would have realised you'd be owned already.