Hi friends! Welcome to this update analysis on Ripple! Let's jump right in. Looking at the four hour XRP chart, we can see that it has fallen significantly from the bear flag that we were discussing in my last post. If you recall, I said " Looking at XRP, this is what I think. If the bounce was all that it's cracked up to be, we wouldn't be getting stopped cold at the bottom of the blue trendline . Do you see what I'm saying? We sure sailed right through it on the way down. Now, after the bounce that so many are proclaiming has solidified "the end of the bear market," it can't even get back above the blue trendline?! Please. I know failure when I see it, and so far, this looks like a failed bounce." Looking at the chart, you can see that XRP began to drop like a rock, right after I published that analysis. It's in an area of very little support, and it's likely only a matter of time before XRP reaches my symmetrical triangle target. With that said, I do believe that XRP could easily continue to plummet through the target area. We will have to see how XRP reacts if/when it gets there. If you look to the left side of the chart, you can see that we're testing some support that was found near the blue 1, on Dec 15th. Needless to say, I doubt that little guy will provide the bear market ending support, that everyone so desperately wants.
This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
Posts are good n' all but, it's like.. you are just trying to prove that you were right rather than giving knowledge, or more precisely, the knowledge bombs are your ego blowing out. Confidence is one thing, and you are good thats another thing, but this.. dude, this is pathological. Just be careful, you might get in an accident while looking at yourself on the mirror.. Just sayin', and just so you know, I'm following every post you provide and thanks for all that. Everyone here already trusts you, so you dont need to prove yourself, and I believe we all rather appreciate more of your knowledge and experience.
@Kjakail, It's self esteem, not arrogance. He was right and he updated on it. On this market with the right decisions anybody can become a millionare in 1-5 years. A lot is in stake here...
Aldonio
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@Kjakail, what's wrong with giving arrogant traits to a poopy persona? The dude is having fun writing his analysis, if he wanted to give humble and protective traits to his online persona he wouldn't be the "poop cannon".
Davidbr84
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I'm no professional trader and this is very interesting and all, but I've looked at the hourly charts of various cryptos and every single one has virtually the same pattern. With each major dip (look at the recent ones of 2 and 5 Feb for example), price falls sharply and touches/penetrates the lower Bollinger band limit and then you see a significant spike in buy volume which drives price up again somewhat (as if to slow the rate of descent). Not only this, but for every crypto I've looked at, no matter the exchange, the spike happens at EXACTLY the same time. If this is not market manipulation then what is it??? And why are nobody talking about this, surely there are more skilled traders and analysts that should be seeing the same thing??? MPC, I'd love to hear your opinion on this. Thanks!
svhill11
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@Davidbr84, I see it David...so does everyone else whether they want to admit it or not. There is some very big money coming into Crypto is 30-60 days. This is a fact, not rumor. Many banks and trading platforms have set up trading desks to correspond with that date. There was just a news release I read where the big banks are buying and selling BTC and XRP while telling everyone else to get out and not use credit cards to buy. The end result will be a manipulated market with very low rates when they enter. There is ONE problem that just arose...according to the Palm Beach Newsletter the banks were trying to set up this market as a contra correlation to the stock market--because they were coming in when the market crashed in late Feb. It crashed a few weeks early. So we will see what they will do...but the elite are manipulating this market. Any time you have one thing that takes up between 30-40 percent of the entire market cap, you are in DEEP TROUBLE if big money comes in and manipulates it, because this market will tank, and go up and one step up and two back...
Davidbr84
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@svhill11, Thanks for your insight. Lets hope the "elite" does not completely destroy the crypto market...
martied16
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I think you are more hated now than ever by the XRP fanbois. Good work and your commentary is very instructive.
Have a nice day