XRP is one of my favorite cryptos. I can see this chain from a long-term perspective to instantly move large amounts of money instantly. Whether that is with XRP or the underlying technology; XRP fights to hold its place in this interesting crypto-space. I haven’t covered XRP in awhile because there is nothing going on. Price is stable (not a bad thing) and all we have been doing is range trading in the rectangle above. I would think it prudent to consider buying XRP if you can get it under $.30 (cents). So, at or below the rectangle would be a good entry for this guy. There is a small trendline that you could consider buying a small amount on, and again if the trendline doesn’t hold and we fall to the bottom of the rectangle.
You can see the upper trend channel was breached as longs probed higher prices. BUT the upper channel held, so if you’re looking for a nice swing trade with a few percent profits, take the advice above and try to squeeze 3+ percent out of this little guy.
Outlook: Neutral, nothing indicates a strong Bearish trend and nothing is pointing towards a major bull move. If you follow my trading ideas, you're looking to get 20 percent profit and leave the profit in the crypto for the long haul, you would need to pull out +.06 (cents) on XRP at these levels. I would see if we move closer to the little trendline I drew on the chart as a support area. As for me, I have plenty of XRP and will only buy under.30 (cents).
Good luck,
Biff
P.S. Everytime I say boring, or nothing going on here, we explode; just a thought :)
You can see the upper trend channel was breached as longs probed higher prices. BUT the upper channel held, so if you’re looking for a nice swing trade with a few percent profits, take the advice above and try to squeeze 3+ percent out of this little guy.
Outlook: Neutral, nothing indicates a strong Bearish trend and nothing is pointing towards a major bull move. If you follow my trading ideas, you're looking to get 20 percent profit and leave the profit in the crypto for the long haul, you would need to pull out +.06 (cents) on XRP at these levels. I would see if we move closer to the little trendline I drew on the chart as a support area. As for me, I have plenty of XRP and will only buy under.30 (cents).
Good luck,
Biff
P.S. Everytime I say boring, or nothing going on here, we explode; just a thought :)
