XRP is the coin that continues to disappoint. Green and purple lines were drawn a few months ago; If we make a convincing break of the green line then I believe its got a decent chance of beginning to run, if it collapses, as XRP is wont to do then it may double bottom to its COVID crash lows. I don't expect it to fall to where the purple line would extend to.
This week I've noticed that its double bottomed against BTC and is actually showing green shoots. This is the same level that it went bonkers against Bitcoin in Dec of 2017. This could be another fake out, could be where fortune are made and lost.
In proper XRP form it broke the green trend line on the 4h and then promptly dipped; but the wick is looking very fine. I haven't gone long XRP yet. My basis is split equally between Bitcoin and ETH, with the majority of my long position in BTCUSD, with a smaller portion in ETH. XRP starts breaking and holding 0.27, or .0.28 and I'll start feeding a long there.
Trade closed manually
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I want anyone that comes across this to know how much I hate Kraken. I was long, with quite a bit of profits added to my basis and profits on the trade. They closed for maintenance, and while it was 'down' the price slammed down, resulting in me getting liquidated below my stop loss. the candle doesn't show up on TradingView, just their own charts. Sure would be nice to have my long at .41 put back on the books. There working on getting me back the USD value of what was liquidated.
@This_Guhy, Me getting in at .028 would be below a higher high since, OCT, would you want to see it hold 0.31 to beat September?
This_Guhy
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@FerroIgnique, I have been burned so many times by XRP I need to see it beating eth, btc, xmr, link, ada, and a whole slew of other coins before I touch it again.
ParParanga
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I Hodl. It can reach also the Ath again just like btc.
@bossmodetrader, I traded the break out based on my fib channel. The circles are the anchor points and the arrow is my entry and horzontal ray was my. From here until the .618 level I went and closed my margin position, fed eth, which is a colleral currency on kraken (and xrp isn't anymore), and reopened a larger xrpusd long. I went x10 on my total account and then gave up some, so I am sitting on x8 right now. I think we will retrace to above the .5 retrace level and I will start all over against.
It was a crazy couple of days. The kind you wait years for, and we have about another month of pump craziness to go till xrp double tops.