I have used the XRP/USD chart as I found these charts are more reliable than the BTC pairs. It looks like Ripple is ready for yet another breakout. I myself think breakout from patterns like a pennant or flag are overall very reliable. Strong support has shown and Ripple tested and rejected the 0.98 USD support line four times in a day.
Target around 1,50 USD Stop/Loss 0,97 USD
Buy on breakout of pennant with high volume
Order cancelled
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Bitcoin literally "crashed" the party. Ripple was making its move upwards but Bitcoin decided otherwise
^I noticed that too, but I think that only happened because people were thinking that when btc drops, it would drop even lower than 10k. Hence, creating fear which made people sell off their Ripple -> btc -> usdt/usd. But this behaviour wont last long as btc stabilizes or increases.
mikehill85
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I have a question. Do you think that XRP is tied to bitcoin? It appears (at least for the past few days) that XRP has been more or less tied to whether or not BTC is going up. If BTC goes down you have a pretty good indication that XRP and just about everything else will go down too. Yesterday's run to the top was disproportionate to the rise in BTC and the other cryptos but in hours where BTC dropped XRP dropped too.
milltay
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@mikehill85, in times of crypto crisis everything is tied to BTC :)
mikehill85
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@milltay, This is what I was thinking too. It is pretty hilarious that people were losing their minds yesterday because BTC dropped to a level it was at only a few weeks ago. I have to admit, the media and banks have been really good at fear mongering and saying this is a bubble. They obviously have a vest interest in seeing crypto fail.
milltay
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@mikehill85, Indeed. It's clearly obvious how biased certain news outlets are, even in the titles of articles. "Bitcoin and almost every other cryptocurrency crashed hard today"- Techcrunch. They didn't even talk about how it rebounded almost immediately. lol
mikehill85
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@milltay, They are planting the seed of doubt in everyone's mind, which, tbh crept into my mind when shit was going down yesterday. Luckily I let it ride on XRP and got back up past where I was before.
RJDTC
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@mikehill85, Agreed, everything is tied to bitcoin because the highest volume traded are BTC pairs. So a change in Bitcoin influences everything directly, not just XRP :)
BTC's influence on the cryptomarket as a whole is way to large at the moment and it makes no sense, it's time for a change. Why should 1 coin affect the value of other coins?
mikehill85
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@robbiegrass, Do you know if XRP was operating independently thursday's/friday's plunge. I can check myself I suppose but just wondering if this will pass. XRP keeps seeming like it is ready to break out but then stupid BTC goes down a few points and everyone freaks out.
RJDTC
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@mikehill85, look what happend to BTC when Ripple was breaking out just a few minutres ago. Suddenly Bitcoin collapses 800 dollar. This isn't the first time this happend.
I feel like people are trying to manipulate Bitcoin so that XRP is unable to get big.
Similair events happened to Ripple before. Look what happened back in April (note that his wasn't a one time event, like 5 times Ripple was rallying and the website crashed out, back then, Poloniex was the biggest website to trade cryptos on)
bitcointalk.org/index.php?topic=1856552.0
mikehill85
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@robbiegrass, I saw that too, actually just as I was typing my original question. BTC is really starting to piss me off/make me sad all at the same time.