As many of you interested in XRP may know that tomorrow there is an event, that is supposedly leading people to buy XRP at one moment, resulting a strong spike to the upside as all the sells walls will be bought at once.
This event should supposedly happen at first of February (tomorrow or 1.2.2020) at 1:30 PM UK time.
It's unknown who is the former of this event, but it may seem a bit sketchy, as if someone bought XRP low, around $0.20 and want to sell tomorrow (at the time of the event) to yield from the price spike.
It doesn't have to be a whale in particular, but it could be. As there is a lot of hype followed by GameStop buying and Doge buying.
So is there really something sketchy going on?
Well it may not actually be the case.
As you may know Ripple company had a lot of problems with SEC, which decided to BAN XRP from American Exchanges. This ban resulted in a very strong drop and seen a very strong spike in short positions.
What I think, this is a gang-up against SEC and XRP short contracts, to liquidate the biggest XRP manipulators, that may have to do something with the SEC ban.
So whether you are attending or not, we are for sure a witnesses of a retail investors (us) against a intuitional investors that moves the market to their liking, leaving us mostly in a loss.
Just imagine the world, where it would be impossible to short Bitcoin or any other cryptocurrency. Do you really think we would see such strong moves to the downside? For sure there would be profit taking, but not selling at one specific time for the good of short positions.
That's my opinion, what's yours about this whole XRP situation? Let me know in the comments.
Use the resistance levels as your take profit levels if you are looking to trade, same as I do.
Thanks for your time and good luck trading!
Tibor
This event should supposedly happen at first of February (tomorrow or 1.2.2020) at 1:30 PM UK time.
It's unknown who is the former of this event, but it may seem a bit sketchy, as if someone bought XRP low, around $0.20 and want to sell tomorrow (at the time of the event) to yield from the price spike.
It doesn't have to be a whale in particular, but it could be. As there is a lot of hype followed by GameStop buying and Doge buying.
So is there really something sketchy going on?
Well it may not actually be the case.
As you may know Ripple company had a lot of problems with SEC, which decided to BAN XRP from American Exchanges. This ban resulted in a very strong drop and seen a very strong spike in short positions.
What I think, this is a gang-up against SEC and XRP short contracts, to liquidate the biggest XRP manipulators, that may have to do something with the SEC ban.
So whether you are attending or not, we are for sure a witnesses of a retail investors (us) against a intuitional investors that moves the market to their liking, leaving us mostly in a loss.
Just imagine the world, where it would be impossible to short Bitcoin or any other cryptocurrency. Do you really think we would see such strong moves to the downside? For sure there would be profit taking, but not selling at one specific time for the good of short positions.
That's my opinion, what's yours about this whole XRP situation? Let me know in the comments.
Use the resistance levels as your take profit levels if you are looking to trade, same as I do.
Thanks for your time and good luck trading!
Tibor
Comment:
#xrpump over 43% under 8 hours! I hope you are enjoying the ride and if not well.. have at least a great view of a volatile market!
