readCrypto

XRP (XRP) - August 3

BINANCE:XRPUSDT   XRP / TetherUS
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(XRPUSDT 1M Chart)
Whether or not it can rise above the HA-High indicator is the key.


(1W chart)
Resistance: 0.4989-0.6200
Support: 0.2727-0.3466

We need to see if we can keep the price above 0.3466.


(1D chart)
Primary resistance: 0.4084
Secondary resistance: 0.4700-0.4989

1st support: 0.3283-0.3466
Second support: 0.2727

You need to make sure you keep the price above 0.3466.


The 0.4989-0.6200 interval is the interval that determines the trend.

Therefore, if the 0.4989-0.6200 area is not supported and declines, it may lead to further declines.

Therefore, if it falls below 0.47, Stop Loss is required to preserve profit and loss.


The current price range is low enough to be called the bottom section.

Even if it falls below about -30% here, the same is true.

Therefore, the Stop Loss mentioned above does not mean 100% liquidation.

It means selling enough to relieve psychological anxiety about falling prices to some extent, and to gain the strength to buy again at a lower price in the event of a fall.


I think that investing in coins (tokens) located at a low price like the present is to get a bigger profit over a certain period than the current one.

Therefore, the average purchase price is meaningless, and increasing the number of coins (tokens) is an important issue.

In order to increase the number of coins (tokens), you can use all of your investment to buy them, but when that happens, you often end up selling without being able to withstand the psychological pressure due to price volatility.

When the price shows a full-fledged uptrend, it is necessary to adjust the proportion of the investment in order to continue investing.

The only way to increase the number of coins (tokens) while adjusting the weight is to sell them in installments at a high price and buy them at a low price.

In that sense, Stop Loss is needed when it is not supported in the 0.4989-0.6200 section and falls below 0.47.

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** All descriptions are for reference only and do not guarantee a profit or loss in investment.

** The MRHAB-T indicator, which is inactive on the chart, contains indicators that indicate support and resistance points.

** Background color of Long/Short-S indicator: RSI oversold and overbought sections
** Background color of CCI-C indicator: When the short-term CCI line is below -100 and above +100, oversold and overbought sections are displayed.

** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)

(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)

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[Example of exchange chart setup]

(Binance)
www.tradingview.com/x/S94aDxa8

(Upbit)
www.tradingview.com/x/DF6cGh3G/
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