XRP chart looks terrible. Volume is dropping, interest is dropping. A massive and obvious bear flag is forming, I dont know how no one can see this and people are still buying this thing. This was just an extended bounce for wave B of this correction from XRP top. XRP is losing strength, it failed to make a new high in the least bull run and is now slowly bleeding out. Its going to take a while to bleed out because of how many bag holders there are and how much silly youtubers keep pumping this thing. Its unfortunate that many are going to lose their shirts on this thing. I used to think that maybe XRP could do some amazing things but after doing more research and looking into on chain metrics I am now convinced this was the biggest pump and dump in history.
It looks like XRP is going to dump hard down to single digit pennies in the not too distant future. What will cause this sort of drop you may ask? Well probably the obvious that the SEC will get their way as they always do and XRP will be considered an unregistered security or another lawsuit and people holding get impatient and dump. Who knows, all I know is that its about to tank. Maybe one more quick fakeout up into the 70 cent range to the top of the bear flag, and then whoosh, pull the rug. It is hitting some really strong resistance right now so Im not sure if it can actually break through this.
RSI as you can see is pointed straight down on the 2 WEEK
MACD also pointed straight down on the 2 WEEK
Not financial advice just my opinion.
It looks like XRP is going to dump hard down to single digit pennies in the not too distant future. What will cause this sort of drop you may ask? Well probably the obvious that the SEC will get their way as they always do and XRP will be considered an unregistered security or another lawsuit and people holding get impatient and dump. Who knows, all I know is that its about to tank. Maybe one more quick fakeout up into the 70 cent range to the top of the bear flag, and then whoosh, pull the rug. It is hitting some really strong resistance right now so Im not sure if it can actually break through this.
RSI as you can see is pointed straight down on the 2 WEEK
MACD also pointed straight down on the 2 WEEK
Not financial advice just my opinion.