MagicPoopCannon

Hodlers Beware! XRP Consistently Showing Overwhelming Weakness!

POLONIEX:XRPUSD   XRP / U.S. Dollar
XRP (along with the vast majority of crypto assets) looks immensely dangerous right now. I've published several analyses talking about this big blue uptrend channel that XRP was in. When XRP was approaching the bottom of it, I suspected that there was a decent chance for a significant rally if it held support. Unfortunately, price never held the bottom of the channel as support. Instead, we've seen a breakdown below the blue uptrend channel , and to make matters worse, price rallied back up to it, tested it, and rolled over to the downside. Not only was the channel defined as resistance, but so were the 50 and 200 week moving averages, which are in the same general area. This is extremely bearish . Especially since price remains in a bear market downtrend, forming lower highs and lower lows.

As of right now, I'm fully expecting price to fall to the 0.15 level. If that fails to hold as support, I believe that there is a very real and dangerously high probability that XRP will fall to the 0.03 level. I know many people think that is out of the realm of possibility, but the continuous weakness is saying otherwise. I love Ripple and XRP, but I'm an investor and an analyst first and foremost. I will not hold on to assets that are this vulnerable.

On the weekly RSI , we can see that the strength is flirting with the downside right now. One thing that is very noteworthy here, is that price has been severely overbought, but it has never been severely oversold. Considering the consistently overwhelming technical weakness, XRP may soon find itself in the "severely oversold" section of the weekly RSI — where it's actually GOOD to be a buyer. Choose your moves wisely. The future we've all envisioned is NOT guaranteed.

I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-

Comments

Ok guys im back. When poop was bullish on XRP i shorted the hell out of it and made good money! now he is bearish..so Im LONGING XRP. Do the opposite of this guy and you will have 90% success rate lol. IM LONGING XRP NOW!
+11 Reply
MixedTrade Darkside999
@Darkside999, PooP lose his money on XRP, he is rekt now
+2 Reply
Lost all respect bro. Your fake ass channel is ok for outlandsih 220$ xrp but when you try to pass this off as reall TA We got problems bro. This is pathetic. So if XRP crosses that BS line of yours with one touch point we are in trouble? Not that I disagree but your clickbait garbage
+7 Reply
what happened to your previous prediction, you are almost wrong every time!! one day said XRP goes to 30, 120, etc and now claiming a few penny, such a big swing in the analysis shows you have no idea what is going to happen!
+7 Reply
If U want to lose all your money - listen to this Master ;₽
+4 Reply
Where was this call on XRP when it was at 0.50c not all that long ago? You're "The Master" alright of horrible calls. Anyone that listens to your nonsense predictions and actually makes trades on them should have their head examined.
+3 Reply
@Find3, poop has helped me quite a bit, I’m sorry you aren’t able to interpret in a way that is beneficial to you!
+1 Reply
Find3 dookieinvestor
@dookieinvestor, Where was his short call on XRP 90days ago when it was at 0.50c? BEFORE it trapped a zillion longs. Oh wait he didnt have one did he?
Reply
@Find3, I invite you to read the analysis again. I read his analysis, invested more, had a stop-loss, lost 7.2%. Now I am rebuying with stop loss, will keep doing this till the market bottoms. I don't see why ANY longs should have been trapped except for amateur traders who do not protect their investments. Have a wonderful day and good luck out there.
+1 Reply
Find3 dookieinvestor
@dookieinvestor, The fastest way to ruin - you lost 7.2% you understand that you now have to have a much larger ROI just to get back to even on that number correct? No need to reply I wish you well.
Reply
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