The_Greek_Trader

CRITICAL LEVEL FOR XRP(RIPPLE)!

KRAKEN:XRPUSD   XRP / U.S. Dollar
Hello traders,it's been a while since my last analysis as i had to finish my master in economics alongside with my work.
But let's get to the main subject Ripple (xrp).
Recently the world of cryptos is getting hit by multiple sides although in my opinion cryptos are not dead and for some of them the future may be bright .
The leader of all cryptos Bitcoin ( BTC ) is slightly down today, fluctuating around the $6,300. The major cryptocurrency is currently trading at $6,287 by press time, down 1.5 percent over the past 24 hours.
Total market cap has failed regain the $200 billion threshold over the day, falling below that point this weekend. At press time, the total market capitalization of all cryptocurrencies amounts to $194.5 billion.

Markets appeared to react negatively to the ETFS denials once again and the decision of Goldman Sachs to hault the creating of a crypto desk for now as it had stated at the past.Added to those bad news for cryptos the yesterday’s news that the U.S. Securities and Exchange Commission (SEC) temporarily banned trading in XBT Provider’s exchange-traded notes (ETNs) Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”).
Also yesterday, Ethereum co-founder Vitalik Buterin predicted that there is no chance that the cryptocurrency and blockchain space will see “1,000-times growth” again, stating that the industry is now reaching a “ceiling,” and is moving from “just people being interested” to the stage of “real applications of real economic activity.”
In more bullish news for the industry, the crypto industry today saw the launch of two new stablecoins approved by New York regulators.

TECHNICALS OBSERVATIONS
1.We can notice the three last days sellers are in control and above the mean volume .
2.We can also see some key levels with the dotted black horizontal lines and the downward channel .
3. Rsi with the bullish divergence going for the 20 oversold area.
4. Ichimoku Clouds giving us for a long time now the bearish bias.
5.Notice that if the previous low 0,26646 does not hold we are aiming for the 0,20-0,19 area that we had enormous buying volume at the past implying a good support.


POSSIBLE TRADE
LONG TRADE
ENTRY AT 0,19250-0,20 AREA
STOP LOSS AT 0,15
FIRST TARGET AT 0.3580 AREA
HAPPY TRADING AND HAPPY PROFITS!!
PLEASE LEAVE A COMMENT YOUR OPINION OR EVEN A QUESTION YOU MAY HAVE
KEEP FOLLOWING FOR MORE PROFITS!!




Comment: XRP is currently fighting the ichimoku cloud to turn bullish.
Comment: Nice short area if XRP fails to overcome ichimoku cloud especially if you add the negative news from Japan.
Trade closed: target reached: Trade reached its target but because we have not solid fundamentals behind this massive move we have to take profits soon as a violent rebound may come...
As mentioned at price 0,22 level without lower lows and bullish RSI divergence at the triple bottom formed it was a nice long trade.

Comments

Real nice chart and comment, bro! I've also seen Dude's analysis on ETH that I really loved. You should check it out and see what you think!



Reply
The_Greek_Trader nickhalden1
@nickhalden, Thank you i see,price is repsecting this scenario so far..
Reply
Straight towards 0.19-0.20 once we break 0.266? Or is there any change to bounce from a different leve without reaching 0.19-0.20?
Thank you
Reply
@Adamnary, We had some buying pressure based on previous price action at 0.2250 level but if you consider the major sell of that the crypto market is having right now i think is not enough,bigger orders are piling up at 0.20 mark and below it.
But all of these scenarios if we make new lows,if not it's a buy right here with the certain stop loss of course.
+2 Reply
Adamnary The_Greek_Trader
@The_Greek_Trader, I see. Thanks you for your effort and reply
Reply
@Adamnary, Always happy to help and share on my job!
+2 Reply
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