Direction: Long Reasons for open position: - Price near support zone - Price bounced from 1 year low
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@OptiSi, why you think so what someone try to start an avalanche sell off?
OptiSi
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@Moiseiev_Yurii, Hi. Big volume drop in short time without negative news or developments. Looking in past 2 years that kind of a drop in short time was happening in BTC, ETH only to start an avalanche selloff(panic). This is from my view ofc. But on positive side, 1 year ago this move would go through but now price stabilized really fast. Today support zone is broken despite great news regarding Xpring. I guess bears want to break that 0.24 mark.
@OptiSi, support zone is previous resistance levels
LtCmdrData
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Lastly, (not to blow up your comment section, but)
I do agree, I think XRP can be "cleared" from the most negative cases of $0.24 and below if we get and hold above your blue line soon.
LtCmdrData
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Yeah, I am curious in the "point" of the massive sell off.... Doesnt seem to be necessarily news related or BTC, etc....
Two things-
(i) was it the beginning of a broader massive sell off...?
(ii) was it clearing stops?
Also, do we know if institutions were buying XRP at market price? If 250Mil was sold at market value in Q2, then I'd expect they have no reason to want it to go lower!
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I am curious to see what happens at your support! Thx.
I made an XRP post a week or so ago, it was more bearish (on the point (i) view...).
-- It has since been invalidated, however I am still cautious.