$XRP XRPUSD seems to lose its juice because of #BTC Volatility
Updated
Hello there ladies and gentlemen, BulloTaurus here with fresh market analysis.
This time i will go through Ripple chart and explain why i am bearish on this cryptocurrency, actually it does not have much in common with crypto as you know, but this is another story....
Well, we saw amazing volume and upward movement in November that broke the long downtrend it had across past years.
The only hope for XRP is some Christmas Miracle.
Don't get me wrong, i love Ripple, especially the gains from trading it (especially shorting ....HA!)
You should be positive to be profitable in your trades, but to be honest, Ripple has very good chances to reach 1-2$ in 2021, a healthy correction will boost more juice in the order books.
🍌 Please read the description 1-2 times including the Disclaimer before commenting 🍌
P.S. You're awesome! You can't be successful in all your trades, 30-40% is already higher than average traders you see!
This time i will go through Ripple chart and explain why i am bearish on this cryptocurrency, actually it does not have much in common with crypto as you know, but this is another story....
Well, we saw amazing volume and upward movement in November that broke the long downtrend it had across past years.
- As you can see at previous massive Ripple movements you can find very interesting patterns, it moves fast and retraces perfectly to Fibonacci Retracement zones.
- Based on VPVR indicator we don't have much support either till T1 (Target 1) levels.
- Another factor that makes me short Ripple is the decreasing volume.
- Holiday season will also affect lack of liquidity and buy pressure.
- MACD shows signs of downward movement as well.
The only hope for XRP is some Christmas Miracle.
Don't get me wrong, i love Ripple, especially the gains from trading it (especially shorting ....HA!)
You should be positive to be profitable in your trades, but to be honest, Ripple has very good chances to reach 1-2$ in 2021, a healthy correction will boost more juice in the order books.
🍌 Please read the description 1-2 times including the Disclaimer before commenting 🍌
P.S. You're awesome! You can't be successful in all your trades, 30-40% is already higher than average traders you see!
Trade active
$0.61 is the max it can go, it can be a nice entry with tight stop loss to short.Note
Almost reached T1.Trade active
We had a perfect entry at T1! AwesomeTrade active
Unfortunately this played out and XRP ended up with a massive dump. I hope you shorted and profited from this trade!
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