milanjelic
Short

XRP instability (INCLUDING drop levels). XRP/BTC deflation DROP

BINANCE:XRPUSD   XRP / U.S. Dollar
Hi guys.

Welcome to this update on the most accurate XRP analysis on TradingView :)

This is a follow up on my previous idea, which forecasted an XRP drop of 30% in the coming days, see previous idea at:



So far, XRP has dropped 12% from the previous idea's level, we have more to go ;)

If you like an idea, please remember to press the LIKE button, it will motivate me to continue posting and offering you the best possible advice.

In this post I will be brief, because there is not too much to add to the analysis posted on the 5th October.

Here are some interesting facts:

* Marketcap of XRP on the 5th October was 21.2 billion US dollars
*At the time of posting, the XRP price was 0.52 USD.
*In the meantime, XRP has deflated by more than 12% (in 5 days ).
*Current XRP marketcap is 18.5 billion US dollars (compared to previous 21,2) at the October 5. th -3.04% gives nearly 3 billion nominal loss.
*Current XRP price is 0.463$ with a tendency to go lower.

IMPORTANT:

XRP is generally bearish .

Daily RSI indicates further downward momentum.
Previous drop levels posted were (0.49 , 0.47. 0.44. 0.41 ...)
0.49$ and 0.47$ are passed (we had rebound on both of them (wink) hope you enjoy the accuracy).
0.44$ remains unchanged as 0.41$ along with new lows.

Most likely we will see further lows on XRP (as per chart decribed).
Don't rush with rebuy (you saw yourself, had you rebaught 5 days ago you would have already lost more than 10%).

Good luck and remember to follow me to receive the latest updates instantly. If you like my idea, LIKE it with a button (smiley)

Thanks for reading.

Trade closed: target reached
Good call !
+1 Reply
milanjelic harlmington
@harlmington,

Appreciate the feedback :)
Reply
@eierbear welcome back.
Glad you liked it.
Reply
Good call on XRPUSD and there may be potential gains as you have identified by going short. Currently price is approaching our first resistance at 0.4548, which is a horizontal pullback resistance, with a 23.6% Fibonacci retracement. RSI is also seeing a bearish exit and we could see a corresponding drop in price. If a corresponding drop does occur, we may want to take a look at the 0.3757 major support. It is a horizontal pullback support with 76.4% Fibonacci retracement. Excited to seeing how things develop.

Please take a look at our idea and share with us what you think.

+1 Reply
milanjelic easyMarkets
@easyMarkets, thanks
Reply
damn, i stand corrected
+1 Reply
milanjelic BubbaGanoosh
@BubbaGanoosh, It happends :)
Regards mate
+1 Reply
sorry, that was yesterdays chart. todays chart is here
+1 Reply
milanjelic BubbaGanoosh
@BubbaGanoosh, Rebuy 44 or 41 or lower ?:)
+1 Reply
feel free to critic my chart
+1 Reply
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