There is now a lot of resistance on the XRP chart.
It looks like a way down, but it's a crypto.
Thus, there is a possibility that if many short positions accumulate there, they may be eliminated and used to break through resistance.
Not the financial board.
Just for fun.
It looks like a way down, but it's a crypto.
Thus, there is a possibility that if many short positions accumulate there, they may be eliminated and used to break through resistance.
Not the financial board.
Just for fun.
Note
XRP does exactly what I pointed out in the Aug 30 idea.There are no coincidences in Crypt, the growth can continue because the +70% pump will catch the attention of many people and FOMO and greed will do their job.
When FOMO kicks in, the big players sell at that time.
After the end of growth, I expect a gradual decline of - 70/80%.
Note
In a previous post I pointed out the fall to 0.30, it happened and was quickly bought back because it is a strong support.The XRP chart is currently interesting and worth paying attention to, if it breaks through here, it can pump.
But there is still a risk that it will go -40% below the support (0.17) as always last time.
Note
If there is no valid closing above 0.55 usd, then I would rather not touch it.Note
I see a potential bearish flag on XRP, which already has a lower trend line with a target of 0.37 after a retest.The overall pattern looks like a possible head and shoulders formation with a target at 0.30 support.
However, the lower support has not been broken yet, after it is broken and confirmed as resistance, the target will be very likely.
But I don't trade, I just enjoy guessing and charting the way to the bottom.
There are plenty of options, good news comes in and FOMO buyers pump it up, it crashes later after profit is taken.
Note
XRP made a false breakout of support, after absorbing liquidity it was subsequently rejected from the lateral trend line.
It is currently back under support.
Surprised faces have increased on You Tube trying to get some liquidity for their sponsors (whales) for further distribution.
I would be careful for now.
I don't like regulation, but if the big players have moved cryptocurrency trading to the level of gambling, I'm in favor of introducing regulation for this market.
Note
As I answered in the comments, if there is good news after the court decision, the pump and after taking the profit then crashes.
If you didn't bet before the FOMO pump, I hope not again, never get on the bandwagon.
I'm not interested in such trades and the exchange I use didn't have this thing on offer at the time anyway.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.