Everytime I say XRP has bottomed out, it somehow manages to find an even lower support. I said a few weeks ago we were done at $0.225 and we were on the verge of altcoin season.
I still do believe we are on the verge of altcoin season, but how low these coins go before that we will never know.
Since XRP broke down below it's monthly level at $0.225 (support level before the 2017 run-up) it just moved like a natural market cycle and found the next support, which was a weekly level at $0.175.
Great entry on XRP would be at the purple $0.175 level. However, we aren't even out of the bear market on XRP. Other altcoins and Bitcoin, sure they had a decent run-up like Ether to $380 and Bitcoin to $14,000 but XRP has just continued to fall and fall and fall.
I've stopped buying XRP, i'm no longer bullish until we can get a daily close above the $0.225 level. I also wouldn't short XRP either, it's a very sticky sitch us holders of Ripple are in right now. Because price is so low, it's stupid to sell and the price doesn't look like it's going to go up anytime soon.
Another note, we still haven't broke out of $0.31 resistance (market in blue box) as well as the local downtrend that was formed from the swing-high of the start of the downtrend in July.
We've had very very bullish news come out of Swell and we have 1000x the news and partnerships we did in 2017, why is the price still so low???
For now, let's pray we can hold the $0.175 level and we don't dip below that. Because if we break below that the next level is $0.13... dear god altcoin season come soon and stop this bleeding madness.
As always please do your own research, I am not a financial advisor.
I still do believe we are on the verge of altcoin season, but how low these coins go before that we will never know.
Since XRP broke down below it's monthly level at $0.225 (support level before the 2017 run-up) it just moved like a natural market cycle and found the next support, which was a weekly level at $0.175.
Great entry on XRP would be at the purple $0.175 level. However, we aren't even out of the bear market on XRP. Other altcoins and Bitcoin, sure they had a decent run-up like Ether to $380 and Bitcoin to $14,000 but XRP has just continued to fall and fall and fall.
I've stopped buying XRP, i'm no longer bullish until we can get a daily close above the $0.225 level. I also wouldn't short XRP either, it's a very sticky sitch us holders of Ripple are in right now. Because price is so low, it's stupid to sell and the price doesn't look like it's going to go up anytime soon.
Another note, we still haven't broke out of $0.31 resistance (market in blue box) as well as the local downtrend that was formed from the swing-high of the start of the downtrend in July.
We've had very very bullish news come out of Swell and we have 1000x the news and partnerships we did in 2017, why is the price still so low???
For now, let's pray we can hold the $0.175 level and we don't dip below that. Because if we break below that the next level is $0.13... dear god altcoin season come soon and stop this bleeding madness.
As always please do your own research, I am not a financial advisor.