Hello everyone, this is my first post here and i want to say that im grateful to be a member of that community. It was quite helpful for me the last 1 year since i started to do some day trading. Im not day trading anymore im doing 1-2 trades a month after studying profoundly the market im into.
Whatever, lets go to the point. XRP - One of the two cryptocurrencies im following since i started trading, the other is BTC. I've followed my intuition to buy XRP on 0,18 and sell it at 2,90, that happened because of going against the predictions. Everybody was saying that it will moon and so on but i know what is Ripple and i know how it works. And most of all im not emotional about it (factor number 1 in succesful trading). In one year of observation i realized that TA on crypto is working not more than 10%... if at all. Its a speculative market and patterns doesn't really mean much unless on some very short trades and sometimes. But as im not into day trading anymore i tried to look at the big picture and i want to point out a few details about XRP which i noticed and i thought that is good to share them:
1. XRP and Ripple are 2 different things. Thats the most important thing you should know. If there are many good news on Ripple it doesn't mean that they will affect its currency. All those new contracts and good news actually mean nothing for XRP. They are benefitial for the shares of the company. So if you were wondering why despite all the good news XRP is going down, well - maybe this provides an answer for you. And thats how it is going to be in future aswell.
2. Everybody is waiting that big bang to repeat now, but hey, people... Why so emotional about it, my realistic view is that after a rise of 36000+% in one year you cannot expect XRP to go much higher... on the contrary...what would be the reason for that? Another pump and dump? Well thats possible, but Crypto is a whales market as any other and they want you to belive exactly that. Im suspicious that many of the TA's are coming from people associated with those whales just to make you positive about it and take all of your money. Im not telling you what to do, but be cautious. Its just a friendly advice. :)
3. Bitcoin is still in downtrend. Yes, it is! And in my opinion XRP aswell. But it doesn't matter cause if Bitcoin is going down, XRP is sinking too. My view about it is to wait and see Bitcoin's bottom (which in my opinion will be 6k or 4k) and then check whats going on with XRP (which in that case might go back to them sweet 0,20). One more time, those are just opinions and im not professional, i just know a lot of patterns and market psychology. And i have a sensitive guts :-D
My views are based on spending a few hours each day to observe BTC and XRP and all the TA of the TOPs. Its mostly happening the contrary of what is said, on the long therm. Some guys can be certain about some short therm predictions but thats not my thing cause im going long.
Thats all for now, i will be glad to share any future observations with you if i notice something important :) Thank you for your attention and have a lovely life!
P.S... I don't mind if you hit the like button if you agree with me or you appreciate my work. Cheers!
Whatever, lets go to the point. XRP - One of the two cryptocurrencies im following since i started trading, the other is BTC. I've followed my intuition to buy XRP on 0,18 and sell it at 2,90, that happened because of going against the predictions. Everybody was saying that it will moon and so on but i know what is Ripple and i know how it works. And most of all im not emotional about it (factor number 1 in succesful trading). In one year of observation i realized that TA on crypto is working not more than 10%... if at all. Its a speculative market and patterns doesn't really mean much unless on some very short trades and sometimes. But as im not into day trading anymore i tried to look at the big picture and i want to point out a few details about XRP which i noticed and i thought that is good to share them:
1. XRP and Ripple are 2 different things. Thats the most important thing you should know. If there are many good news on Ripple it doesn't mean that they will affect its currency. All those new contracts and good news actually mean nothing for XRP. They are benefitial for the shares of the company. So if you were wondering why despite all the good news XRP is going down, well - maybe this provides an answer for you. And thats how it is going to be in future aswell.
2. Everybody is waiting that big bang to repeat now, but hey, people... Why so emotional about it, my realistic view is that after a rise of 36000+% in one year you cannot expect XRP to go much higher... on the contrary...what would be the reason for that? Another pump and dump? Well thats possible, but Crypto is a whales market as any other and they want you to belive exactly that. Im suspicious that many of the TA's are coming from people associated with those whales just to make you positive about it and take all of your money. Im not telling you what to do, but be cautious. Its just a friendly advice. :)
3. Bitcoin is still in downtrend. Yes, it is! And in my opinion XRP aswell. But it doesn't matter cause if Bitcoin is going down, XRP is sinking too. My view about it is to wait and see Bitcoin's bottom (which in my opinion will be 6k or 4k) and then check whats going on with XRP (which in that case might go back to them sweet 0,20). One more time, those are just opinions and im not professional, i just know a lot of patterns and market psychology. And i have a sensitive guts :-D
My views are based on spending a few hours each day to observe BTC and XRP and all the TA of the TOPs. Its mostly happening the contrary of what is said, on the long therm. Some guys can be certain about some short therm predictions but thats not my thing cause im going long.
Thats all for now, i will be glad to share any future observations with you if i notice something important :) Thank you for your attention and have a lovely life!
P.S... I don't mind if you hit the like button if you agree with me or you appreciate my work. Cheers!