XRPhilharmonics and the Crypto Symphony Orchestra
Updated
Seriously tho, LOOK at that harmonic!
Would have been nice to bag one final TP at the 200 ema buut we had some nice profs and DCA'd into a decent short hedge close to the top of this last wick. See how we do eh?
Some fundamentals here :
1. SEC v. Ripple could be larger than I'd anticipated even though the shifty regulator supposedly only has jurisdiction over US, so . .
with that being said, the issues relating to regulatory clarity should bring high volatility before AND after any kind of adjudication.
2. Large volumes of XRP continue to shift and fundamentally, the ecosystem / XRPL has no shortage of development activity and
the projects that rely on XRPL just continue to expand. I'm a Python guy and have been using XRPL to better understand what's
under the hood. I've looked into many other projects including Stellar (XLM), Thorchain, et. al. and by far and wide, XRPL seems to
be the most impressive. I know you ETH guys might chirp about that but I've mucked about with Solidity, smart contracts, etc. but
truth be told, I've never liked having to deal with ERC-20's, too spendy, slow and labor intensive for my liking. XRP = fast,
cheap and easy, the way we like em ;)
3. FTX lawyers got green light to liquidate holdings in order to get square with their creditors. Crypto ALWAYS pumps ahead of a mass
distribution event and I don't trust this most recent market pump. It just "feels" dirty.
Getting back to the technicals, any other Fibonacci fan can tell you to follow the retracements but I'm a fork guy as well, love the Schiff's
so looking at the most recent price action, I'd be looking to re-accumulate at lower levels if that big massive Harmonic elephant in the tub
starts to really move.
We've got our long cold bags and added some on that last 0.33's range but don't be surprised if we head back to the garage days (sub 0.20)
and see some big buying ops down there in the basement. Hedge your bets and don't be afraid to lock value on your longs with a few shorts.
Enjoy the fireworks and as always, not investment advice.
Box out . .
Would have been nice to bag one final TP at the 200 ema buut we had some nice profs and DCA'd into a decent short hedge close to the top of this last wick. See how we do eh?
Some fundamentals here :
1. SEC v. Ripple could be larger than I'd anticipated even though the shifty regulator supposedly only has jurisdiction over US, so . .
with that being said, the issues relating to regulatory clarity should bring high volatility before AND after any kind of adjudication.
2. Large volumes of XRP continue to shift and fundamentally, the ecosystem / XRPL has no shortage of development activity and
the projects that rely on XRPL just continue to expand. I'm a Python guy and have been using XRPL to better understand what's
under the hood. I've looked into many other projects including Stellar (XLM), Thorchain, et. al. and by far and wide, XRPL seems to
be the most impressive. I know you ETH guys might chirp about that but I've mucked about with Solidity, smart contracts, etc. but
truth be told, I've never liked having to deal with ERC-20's, too spendy, slow and labor intensive for my liking. XRP = fast,
cheap and easy, the way we like em ;)
3. FTX lawyers got green light to liquidate holdings in order to get square with their creditors. Crypto ALWAYS pumps ahead of a mass
distribution event and I don't trust this most recent market pump. It just "feels" dirty.
Getting back to the technicals, any other Fibonacci fan can tell you to follow the retracements but I'm a fork guy as well, love the Schiff's
so looking at the most recent price action, I'd be looking to re-accumulate at lower levels if that big massive Harmonic elephant in the tub
starts to really move.
We've got our long cold bags and added some on that last 0.33's range but don't be surprised if we head back to the garage days (sub 0.20)
and see some big buying ops down there in the basement. Hedge your bets and don't be afraid to lock value on your longs with a few shorts.
Enjoy the fireworks and as always, not investment advice.
Box out . .
Comment
Caveat : Harmonics tend to fail on XRP.Stay Frosty!
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