The Decision Point Is Near! Will XRP Escape the Trading Channel?
I haven't had much to post about XRP in such a long time. Today we have the opportunity to talk about something significant. For months now, we've sat bored to tears watching the price bounce back and forth from the top and bottom limits of this parallel trading channel without a breakout. Now we are on the cusp of a decision point at the top of the trading channel once again! But what will XRP do?
I think it will sit and wait to see what Bitcoin does, and follow suit. One thing I know for sure is that ALL of the crazy breaking news stories that we have been fed week after week have had absolutely no effect on the price line of XRP. The breakout will be 100% technical. I've never been a fan of breaking news influencing price, even though it does happen at times, but it's clear here in XRP land that breaking news stories, no matter how outlandish they are (and boy have they been!), will probably have no effect on the price.
I got a little excited when the price line broke through the top of our trading channel on October 6th. But as we see, it did not have enough gas to make a strong enough move to stay above the line and find a new base. The next move up didn't even make it to the line, and we're making pivots in lock-step with Bitcoin. With BTC on the brink of a breakout or a dump, I think we'll get our answer on the immediate future movement of XRP. If BTC chases after the CME gap, we're going to get yet another opportunity to load up at prices POSSIBLY as low as 0.18 to 0.20. But that's just my opinion.
I'm not making any more buying and selling decisions on XRP anymore, and it's HODL from this point on. As history has shown, sitting and waiting for XRP can be an anguishing experience. It can't get any worse. My strategy is to wait for the all-out bull run to hit, which could be fall of 2021. Until then, I'm hitting the snooze button each and every time the XRP Alarm goes off.
Not financial advice. Make your own decisions, and lose your own money ON ya own. But keep hope alive!
Carlton Flowers
The CryptoPro
I think it will sit and wait to see what Bitcoin does, and follow suit. One thing I know for sure is that ALL of the crazy breaking news stories that we have been fed week after week have had absolutely no effect on the price line of XRP. The breakout will be 100% technical. I've never been a fan of breaking news influencing price, even though it does happen at times, but it's clear here in XRP land that breaking news stories, no matter how outlandish they are (and boy have they been!), will probably have no effect on the price.
I got a little excited when the price line broke through the top of our trading channel on October 6th. But as we see, it did not have enough gas to make a strong enough move to stay above the line and find a new base. The next move up didn't even make it to the line, and we're making pivots in lock-step with Bitcoin. With BTC on the brink of a breakout or a dump, I think we'll get our answer on the immediate future movement of XRP. If BTC chases after the CME gap, we're going to get yet another opportunity to load up at prices POSSIBLY as low as 0.18 to 0.20. But that's just my opinion.
I'm not making any more buying and selling decisions on XRP anymore, and it's HODL from this point on. As history has shown, sitting and waiting for XRP can be an anguishing experience. It can't get any worse. My strategy is to wait for the all-out bull run to hit, which could be fall of 2021. Until then, I'm hitting the snooze button each and every time the XRP Alarm goes off.
Not financial advice. Make your own decisions, and lose your own money ON ya own. But keep hope alive!
Carlton Flowers
The CryptoPro