Hi traders! We can see that as expected in my previous Xrp main analysis, Xrp produced a nice bounce around the indicated target of 0.56$. However, Xrp is losing its bullish behaviour. It is not making higher highs like other main coins, but it didn't make a lower low. Even Ether that was in trouble, is making higher highs. The local bullish trend line was broken, and now Xrp is trading below it. If Xrp was following Btc trend, it would be around 0.75$ right now. We are having a possible incoming local death cross, which could not be good if it happens, but this could not be dramatic either.
But, but... good news is that the 1 day RSI is around 37, which means Xrp is importantly oversold. This could attract some new buyers for this reason. Stay tuned, and good luck to you.
hello there, do you think it worth jumping in now?
Giovi6969
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@Belmi,
Depends on you and the type of trading you want. Short term, long term, very long term?
Belmi
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@Giorgioversace, longer term; buying for cheap and being ready for raise, when it comes to it (Ripple always surprises)
Giovi6969
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@Belmi,
Well, if you are resistant to very high volatility and that your nerves are ready to hold Xrp for long months, then it might be the right time to jump in.
But it is also possible that Xrp goes lower as the market is possibly still crashing.
Belmi
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@Giorgioversace, agree. lets wait for better market ...
My TA abour Xrp crashing pattern is still valid, i even realised the green pattern i drew is accurate, it did the bounce at 0.55 and hit 0.71. It is moving as i expected so far.
But i doubt Xrp is going to reach the 0.79 target and form the hypothetical head and shoulders i drew