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
@robiescott150, I hope it doesnt age well and all the XRP holders can get rich.
wavehellofriend
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@Bitgolder, i HOPE YOU DO, sorry caps lock but not gunna fix coz its funny, but if you really do, thank you.
MRG001
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@robiescott150, 1,000,000% agreed !!!! @Bitgolder this analysis is pure fantasy, conspiracy theory, based on flawed (no) Technical Analysis, and complete guess work, phantom line BS! In the future, please be more responsible by NOT posting your kindergarten T/A work! really !!! Chew more bubble gum before you think you're ready to kick ass🤣
Bitgolder
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@MRG001, A little emotional I see. You're invested too heavy if this sort of analysis angers you. As an investor you should be accepting of all analysis. Its not bogus analysis and for your sake I hope I am wrong. I dont want you to lose money. Im just trying to point out the obvious and get some people out of the echo chamber dream state they're in. Oh and your favorite youtubers that pump XRP. Go and look at their videos in history. 99% of them chase the most popular hype coin for clicks and views by spewing out totally BS numbers to get the views. They are almost ALL sellouts.
info37838
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@Bitgolder, Not really, What most likely angers him is baseless folly from clearly inexperinced traders citing things as facts based on zero substance. It doesnt have to bother individulas that you are speaking rubbish about XRP but more to the point it is missleading to more inexperinced holders, who actually are influenced by clowns out there acting like they have any idea what they are talking about.
Personally when I see a chart like above, I just smile and compare it to an infants pre-school scribble, however some out there can't tell the differnce yet.
Bitgolder
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@info37838, Another emotional one. You're all in way to deep with this XRP ponzi, its clearly evident.
buster84
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@robiescott150, Your post will not age well. XRP is going to crash.
fastprofittrader
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There is high possibility that XRP will drop but I think that 16 cents target is too much. I don't think that it will drop lower that 0.40 - 0.30 area and this will be very good opportunity to enter position.
Bitgolder
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@fastprofittrader, The measured move of the flag is at least 16 cents. I think itll go lower. I could draw the flag from the top at $2 and the pole would be even longer.