BITFINEX:XRPUSD   XRP / U.S. Dollar
XRP pumped very nicely but it's time for a correction.
Pump was based mostly on FOMO and after this euphoria stage passes people will realize it's not the next bitcoin and they don't want to pump such an over inflated coin, and the correction will begin.

Chart reminds me very much of the bch run, and i expect ripple to cool off soon and begin its next bear trend/consolidation to around $1+

shorting at $2.39
Dec 29
Trade active: looks like we might not even make it to 3.39, shorting at 2.25
Dec 29
Comment: might not make it to $2.39 ****
Jan 11
Trade closed: target reached: both the stoploss and profit targets were hit, depending where you shorted and whether or not you closed the short at the end of the timeline, might be in profit or in loss. Overall seems like a success, was close to calling the top and had a nice correction :)

Comments

When you read people saying they bought in predicting $1000 by end of '18 and they thought it would be the next BTC then you know you should be worried. Lol
+3 Reply
What a shot! nice
+1 Reply
Ripple is the future of cripto currencies too bad you all did not get in when the price was lower. Bitcoin will lose market share once people realize that there is no real world application for biticoin.
+1 Reply
deniskov seraphtrader
@seraphtrader, perhaps, but that's also been said about bitcoin cash, iota, litecoin, ethereum, every other crypto out there.
truth is, the pump will finish and people will forget about it ...
Reply
RichardBranson seraphtrader
@seraphtrader, I agree totally. I'm very surprised at many of the traders comments on this site about how the price is so high. With some good research you will notice Google is a major investor in this company and ripple has dozens of real partnerships with major international banks, along with American Express. The plan is to offer major banks an option of going with Ripple as an international money transfer platform instead of SWFT. That's pretty serious stuff. The market ripple has entered is a 180 Trillion dollar market (international money transfers), so I think everyone should do some real due diligence here because it's a game changer for banks. I'm sure the price will correct, but I'm not seeing how this is a play based on hype. It has the strongest fundamentals I have seen in the Crypto space.
+2 Reply
deniskov RichardBranson
@RichardBranson, these fundamentals have been there for months and some of them for years ... why is it pumping now? did the fundamentals get 10x better? no. but the price did. It's a prime pump target since it's cheap and undervalued, but these pumps come to an end and corrections always happen. don't trade with emotion.
Reply
how I can short rippple?
+1 Reply
deniskov crypto_scalper
@crypto_scalper, make a bitfinex/kraken account and margin sell xrp. you can use other exchanges but those are the two i know support margin selling.
Reply
Nice call on this one :)
+1 Reply
Yes I agree, I pulled a big supply out of ripple about 48 hrs ago and initially had a huge regret but now I’m not sweating it knowing that there will be a massive correction. I’m guessing down to about $1.5 within a few days
+1 Reply
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