Whenever I post about Ripple, there is a pretty large number of readers about that.
I still see this cryptocurrency with doubts: why would banks interested in DLT ?
Why would centralized bank system need DLT? I handled this with large doubts and don't see fundamentals in this currency.
Anyway, due to the large interest about this semi-crypto, Let's see the analysis for today:
There was a primary triangle consolidation between 06 sep and 12 sep. I had a clear and confirmed sell signal on 3 sep, so was out and then it was a pretty high probability that XRP will fall out of the primary triangle soon.
More and more confirmation arrived on the bearish side and Ripple breached all of its supports I gave as targets:
-MA50
-Lower stem of its triangle
Now target is 0.19 (recent swing-low) and, if that fails, target is the lower stem of its mid-term triangle around 0.16. The short-term bear is exhausted for now on my indicators, so I count with some bounce.
If the bounce is not strong enough, we will see a bearish MA cross and that will flip this asset to bearish meaning prices to be seen below of the mid-term triangle.
Dear my readers, I tried to answer to your questions. If you still have some questions, please pose them, I can't guarantee an answer as I'm busy, but will provide some further insight based on your comments.
Good luck, if you still have this crypto!
I still see this cryptocurrency with doubts: why would banks interested in DLT ?
Why would centralized bank system need DLT? I handled this with large doubts and don't see fundamentals in this currency.
Anyway, due to the large interest about this semi-crypto, Let's see the analysis for today:
There was a primary triangle consolidation between 06 sep and 12 sep. I had a clear and confirmed sell signal on 3 sep, so was out and then it was a pretty high probability that XRP will fall out of the primary triangle soon.
More and more confirmation arrived on the bearish side and Ripple breached all of its supports I gave as targets:
-MA50
-Lower stem of its triangle
Now target is 0.19 (recent swing-low) and, if that fails, target is the lower stem of its mid-term triangle around 0.16. The short-term bear is exhausted for now on my indicators, so I count with some bounce.
If the bounce is not strong enough, we will see a bearish MA cross and that will flip this asset to bearish meaning prices to be seen below of the mid-term triangle.
Dear my readers, I tried to answer to your questions. If you still have some questions, please pose them, I can't guarantee an answer as I'm busy, but will provide some further insight based on your comments.
Good luck, if you still have this crypto!
Trader, using patented technology to detect moves of large players (market makers). Part of my techniques work on cryptos as well.
smartvolume.wordpress.com
'Follow smarts, make money'
smartvolume.wordpress.com
'Follow smarts, make money'
