XRP becoming more attractive $0.54-$0.56 area CRUCIAL...
XRP is compelling in this area, but if $0.54-$0.56 area doesn't hold then we will revisit the $0.2226-$0.39887 range. Let's see if the 200 DAY and 30 WEEK SMA's can hold. That will tell us all we need to know for the short term...
For the LT I look at XRP as an OPEN ENDED CALL OPTION on the IoV. Stable company, good management team in place, let's see...
For the LT I look at XRP as an OPEN ENDED CALL OPTION on the IoV. Stable company, good management team in place, let's see...
Comment:
Time to move stops up again. If we break resistance at $1.02 we are gonna rip for real. Good luck!
Trade closed manually:
Looking at some serious resistance in the $1.00 area. Cut to core position and let's see if we get a better price to re-enter in the $0.75-$.80 area...
Comment:
With LTC breaking out and the rest of crypto looking low-key bullish, I really like this trade as a HOLD.
Comment:
Hopefully you've been using this consolidation period wisely. The sideways action at this level is VERY encouraging for the long term prospects of XRP. It appears that most large volume spikes are buy volume, though volume has been lackluster. Shorts should be getting nervous as the $0.85-$0.87 levels have remained VERY supportive. MA's are beginning to coil so a big move is on the way. I suspect it will be to the upside. Let's see.
Comment:
So here we are again...Holding the $0.54-$0.56 area is just as crucial as last time we were here.
A weekly close below the 50 week EMA at $0.5925 would be a crushing blow for bulls and could put those very ugly numbers $0.2226-$0.39887 we spoke of previously back on the table. Should that happen, XRP is a SCREAMING buy and I would add new money and increase my holdings back to 100%.
At the moment, the risk reward just isn't there, so we need to see a break and hold at the $0.72-$0.80 area to return to a bullish stance in these markets.
My long term view HAS NOT CHANGED. I believe that both Ripple and XRP have a VERY BRIGHT FUTURE. Best of luck!
A weekly close below the 50 week EMA at $0.5925 would be a crushing blow for bulls and could put those very ugly numbers $0.2226-$0.39887 we spoke of previously back on the table. Should that happen, XRP is a SCREAMING buy and I would add new money and increase my holdings back to 100%.
At the moment, the risk reward just isn't there, so we need to see a break and hold at the $0.72-$0.80 area to return to a bullish stance in these markets.
My long term view HAS NOT CHANGED. I believe that both Ripple and XRP have a VERY BRIGHT FUTURE. Best of luck!
You'll never go broke taking a profit!
Good luck!