XRP Looking Like a Good Buy
Updated
XRP - loved and hated in equal measure - has lost 86% of it's value since its January 2018 $3.3 high.
I know many of you hate Cryptocurrencies right now. After the heavy losses experienced during this year's bear market. Yes, you were taken for a ride by those who had a clue way before you did, and you exchanged your hard earned dollars for assets that where grossly overvalued.
You may have sworn never to invest in a bubble again.
But every so often, at the back of your mind, you find yourself thinking - "Well, I wish I had bought this stuff when no one knew about it". "I wish I owned it when it was valueless, and sold it when it hit the top"
As a beginning trader myself, I have to admit that I fell hook-like-and-sinker for that sucker-punch. And yes, I also find myself wishing that I had bought the bottom and sold (or shorted) the top.
Well what if you had a second chance to buy the bottom? Before the hype hits the press? Before everyone gets excited again and starts rushing in?
I believe we are starring at one of those bottoms right now.
XRP, like most other Crypto's has typically followed BTCs movements. BTC as you're all aware dropped massively - from 20K to about 5.9K. It has tested the 5-6K bottom a number of times, showing great support at these levels -- with investors unwilling to sell the commodity below this value.
Based on our analysis here
it's regained bullish momentum from 6K levels and is currently trading at 8K.
If BTC holds this key level over the next few weeks, we could see the beginning of a new bull market - probably taking us back to 20K levels over the next 1 year, and higher by 2020.
If it fails to hold, we could see a continuation of the bear market into next year - with prices hitting lows of 4K, maybe 3K.
A bullish BTC however could signal the return of value for other Cryptocurrencies. Should XRP ever return to it's January $3 value, this will mean a gain of more than 645%.
We were suckers to the big-whales who've enjoyed knowledge of the markets for years. But here's a chance to join the whales, and experience the same gains they enjoy or more.
Is the bear market over!? maybe not.
In reality, we could see BTC drop to lower levels - 4K, maybe even 2K. These are all expected levels at this point.
Will it drop to these levels? It most certainly could. But the statistical chances of it dropping to sub-5K levels here are lower than BTC pumping to 12K at this point.
Buying for XRP should start at $0.42-$0.45 levels with an extremely tight stop-loss (not exceeding $0.42 levels or 6% loss).
First sell target $0.52
Second sell target $0.70
Remember buffets good old advise - move in when everyones lost interest. Move out when everyone's rushing in. Here's a chance to be contrarian and do the exact opposite of what we did.
As always: this is not investment advise. I have been wrong before. Do your own research. Always trade in an Exchange with stop-losses. Always set stop losses. Don't gamble, Invest! --> Never Invest more than you can afford to loss. ;)
God bless you all.
All the best.
I know many of you hate Cryptocurrencies right now. After the heavy losses experienced during this year's bear market. Yes, you were taken for a ride by those who had a clue way before you did, and you exchanged your hard earned dollars for assets that where grossly overvalued.
You may have sworn never to invest in a bubble again.
But every so often, at the back of your mind, you find yourself thinking - "Well, I wish I had bought this stuff when no one knew about it". "I wish I owned it when it was valueless, and sold it when it hit the top"
As a beginning trader myself, I have to admit that I fell hook-like-and-sinker for that sucker-punch. And yes, I also find myself wishing that I had bought the bottom and sold (or shorted) the top.
Well what if you had a second chance to buy the bottom? Before the hype hits the press? Before everyone gets excited again and starts rushing in?
I believe we are starring at one of those bottoms right now.
XRP, like most other Crypto's has typically followed BTCs movements. BTC as you're all aware dropped massively - from 20K to about 5.9K. It has tested the 5-6K bottom a number of times, showing great support at these levels -- with investors unwilling to sell the commodity below this value.
Based on our analysis here
If BTC holds this key level over the next few weeks, we could see the beginning of a new bull market - probably taking us back to 20K levels over the next 1 year, and higher by 2020.
If it fails to hold, we could see a continuation of the bear market into next year - with prices hitting lows of 4K, maybe 3K.
A bullish BTC however could signal the return of value for other Cryptocurrencies. Should XRP ever return to it's January $3 value, this will mean a gain of more than 645%.
We were suckers to the big-whales who've enjoyed knowledge of the markets for years. But here's a chance to join the whales, and experience the same gains they enjoy or more.
Is the bear market over!? maybe not.
In reality, we could see BTC drop to lower levels - 4K, maybe even 2K. These are all expected levels at this point.
Will it drop to these levels? It most certainly could. But the statistical chances of it dropping to sub-5K levels here are lower than BTC pumping to 12K at this point.
Buying for XRP should start at $0.42-$0.45 levels with an extremely tight stop-loss (not exceeding $0.42 levels or 6% loss).
First sell target $0.52
Second sell target $0.70
Remember buffets good old advise - move in when everyones lost interest. Move out when everyone's rushing in. Here's a chance to be contrarian and do the exact opposite of what we did.
As always: this is not investment advise. I have been wrong before. Do your own research. Always trade in an Exchange with stop-losses. Always set stop losses. Don't gamble, Invest! --> Never Invest more than you can afford to loss. ;)
God bless you all.
All the best.
Note
Market just moved in favor of bears. If 7.5K support fails. Open shorts for BTC to 4K.Keep your stop losses tight.
Stay long on XRP with tight 0.42 loss. If that fails. Don't Short it. Just sit and wait for next support levels or for BTC 4K.
Note
This could either be a massive bear trap. Or the last leg of the 2018 bear market.Trade closed: stop reached
Hope you kept your stops tight as advised ;)
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