PNUTTY
Long

2 DOLLAR RIPPLE, CAUTIOUS BUYING

BITSTAMP:XRPUSD   Ripple / Dollar
- RIPPLE LOOKING TO STAY ABOVE $2.00
- BROKE ABOVE TOP RESISTANCE LINE AND MOVING SIDEWAYS

After a turbulent period Ripple is looking for support above $2.00 after finishing the ABC correction. Currently on it's 3rd 4h candle above the .5 fib level of $2.00, Ripple's DMI looks to be reaching a lower price action period. That upward trend line though will reach the .5 fib level of $2.00 around 20th Jan, 6 or 7 days from now.

I'm long in the position though those looking to enter I'd enter cautiously. I'd rather wait confirm $2.00 support before deciding on price direction. Looking at the last 20 cent to 80 cent surge, it took almost a week before any further interesting price action took place.



And now for the disclaimer!
** This information is for educational purposes only and not intended for advice on trading **

Comment: Ripple fails to breakout and is now following the top of it's previous top trend line:
snapshot

Next stop: $1.68
Why when BTC is going down XRP always follows? :(
When you beleive XRP will fully recover?
Thank you
Reply
PNUTTY PRO Danielkh
@Danielkh, heeey thanks for your question.

Yeah it's hard to get the timing of the correlation between bitcoin and the other altcoins right. At times, a coin might seemingly move out of sync with bitcoin, and then it suddenly starts following it again (usually when it's going down!).

Worst offender is BCH which initially had high negative correclation with bitcoin but that's just on and off now.

Things that go up do go down . .. but in this game, things that go down also go back up -> question is whether it will beat the previous all time high.

So from that perspective, sure I'm hopeful it will swing back up. I'm holding on myself. Timing wise, I don't think anything soon for Ripple. It's clearly finding new support still.
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out