☔️ Today's idea won't be long, but thanks for joining nonetheless. And before I start just wanted to apologize over the fact that I haven't been able to post the past few days. I've barely been home and just been working these 12, 13 hour shifts some days even, not to mention my mental health just hasn't been the best. I've been mentally drained and going through a lot but that doesn't mean I'm ever gonna give up on you guys. Never. Even if I may be gone some days just know I'll be back. Especially for those of you that believe in me.
☔️ Today's idea is a bit tough in the least to say with XRP having been hit with a rather big sell off following Bitcoin's fall below that $29,3-400 mark after failing to break $30,000 again, and here's the chart for that below for a quick visual.
☔️ Chart speaks for itself and once that 200 EMA was lost what soon followed was an exit by what's likely been a couple institutional traders/ whales with the same happening with XRP as shown visually below as well.
☔️ The chart speaks for itself, I've added a couple new annotations and the consolidation channel is the same as the one from the last idea I posted, I simply extended it to the right but we can see how once we lost that consolidation channel and failed to regain it traders we're pretty quick to sell.
☔️ I'd already indicated in the last idea that if we fell below that 0.62-3 we'd likely get a sell off and that's exactly what's happened unfortunately though we know that it's not because of anything to do with XRP but rather the market having been dragged down by Bitcoin.
☔️ The drop looks a lot more dramatic for XRP but with XRP having a much lower market cap than Bitcoin it makes sense being that you need much less volume to get a bigger move with XRP vs BTC so I wouldn't stress over it too much. And below is the 1 minute chart.
☔️ Can see how even with the fall's that have been largely thanks to a couple whales/ stop loss orders being triggered, XRP still managed to keep above 0.59 showing that there's some support there in the least with a lot of buy volume hitting at that point thus it's still looking like a buying opportunity for some traders.
☔️ Personally I've bought some more XRP down here, especially at that 0.59 mark, no heavy buys but some buying in the least. I'm still buying with the intent to hold at least a year or so believing in the market, after all till Bitcoin breaks $30,000 and the ETF get's confirmed I won't think the bull run has started.
☔️ Not to mention with the SPX continuing to decline traders are for another consecutive day now the market sentiment just continues to be sluggish and bearish which has impacted crypto no doubt. Nonetheless I persist and I'll continue to believe in XRP and crypto.
☔️ Target is to keep above 0.59 in the least, we drop below that expect another big sell off but remember, this is thanks to Bitcoin that we've fallen, nothing to do with XRP. I've got confidence and my confidence continues to be steadfast as ever never waning. A couple cents isn't gonna matter to me when I'm looking at the future and utility years ahead.
☔️ I have to go but please remember I'm no financial advisor, just a humble guy that likes to share my ideas from time to time and help others make sense of the confusion and storm sometimes. And apologies again for the brief ghost, again stuff's just been rough but never means I'll give up on you guys, never. Thanks for tuning in and feel free to leave any likes and share, comment. Wishing all the best.
~ Rock '
☔️ Today's idea is a bit tough in the least to say with XRP having been hit with a rather big sell off following Bitcoin's fall below that $29,3-400 mark after failing to break $30,000 again, and here's the chart for that below for a quick visual.
☔️ Chart speaks for itself and once that 200 EMA was lost what soon followed was an exit by what's likely been a couple institutional traders/ whales with the same happening with XRP as shown visually below as well.
☔️ The chart speaks for itself, I've added a couple new annotations and the consolidation channel is the same as the one from the last idea I posted, I simply extended it to the right but we can see how once we lost that consolidation channel and failed to regain it traders we're pretty quick to sell.
☔️ I'd already indicated in the last idea that if we fell below that 0.62-3 we'd likely get a sell off and that's exactly what's happened unfortunately though we know that it's not because of anything to do with XRP but rather the market having been dragged down by Bitcoin.
☔️ The drop looks a lot more dramatic for XRP but with XRP having a much lower market cap than Bitcoin it makes sense being that you need much less volume to get a bigger move with XRP vs BTC so I wouldn't stress over it too much. And below is the 1 minute chart.
☔️ Can see how even with the fall's that have been largely thanks to a couple whales/ stop loss orders being triggered, XRP still managed to keep above 0.59 showing that there's some support there in the least with a lot of buy volume hitting at that point thus it's still looking like a buying opportunity for some traders.
☔️ Personally I've bought some more XRP down here, especially at that 0.59 mark, no heavy buys but some buying in the least. I'm still buying with the intent to hold at least a year or so believing in the market, after all till Bitcoin breaks $30,000 and the ETF get's confirmed I won't think the bull run has started.
☔️ Not to mention with the SPX continuing to decline traders are for another consecutive day now the market sentiment just continues to be sluggish and bearish which has impacted crypto no doubt. Nonetheless I persist and I'll continue to believe in XRP and crypto.
☔️ Target is to keep above 0.59 in the least, we drop below that expect another big sell off but remember, this is thanks to Bitcoin that we've fallen, nothing to do with XRP. I've got confidence and my confidence continues to be steadfast as ever never waning. A couple cents isn't gonna matter to me when I'm looking at the future and utility years ahead.
☔️ I have to go but please remember I'm no financial advisor, just a humble guy that likes to share my ideas from time to time and help others make sense of the confusion and storm sometimes. And apologies again for the brief ghost, again stuff's just been rough but never means I'll give up on you guys, never. Thanks for tuning in and feel free to leave any likes and share, comment. Wishing all the best.
~ Rock '
