XRP - These moves aren't ripples, they're tsunamis
Updated
If you like to trade internet beans, then you already know about the SEC suing Ripple for selling unregistered securities.
If you like high volatility, then you probably trade XRPUSD. I present to you: a short setup.
The Binance indicator isn't always so easy, I believe it's because of the regulatory scrutiny that makes larger players uninterested, and those who are already long interested in exiting their position.
Target is a double bottom for a -25% move down, which is realistic for the current range. Stop is ~$0.31; if direction were to flip bullish the high volatility would make a wider stop needlessly increase loss.
A note on long term price prediction: Japanese company SBI has invested heavily in
XRP, and XRP does not face the same issues that it does in the U.S. I don't expect this coin to die and it'd be nice to see what's to come in the future for cryptocurrency being utilized not for speculation or defense against inflation.
If you like high volatility, then you probably trade XRPUSD. I present to you: a short setup.
The Binance indicator isn't always so easy, I believe it's because of the regulatory scrutiny that makes larger players uninterested, and those who are already long interested in exiting their position.
Target is a double bottom for a -25% move down, which is realistic for the current range. Stop is ~$0.31; if direction were to flip bullish the high volatility would make a wider stop needlessly increase loss.
A note on long term price prediction: Japanese company SBI has invested heavily in
XRP, and XRP does not face the same issues that it does in the U.S. I don't expect this coin to die and it'd be nice to see what's to come in the future for cryptocurrency being utilized not for speculation or defense against inflation.Trade closed: stop reached
In hindsight, I should have martingaled.Comment
My published indicators: tradingview.com/u/NeoButane/
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
Sorry if I haven't replied to your message yet, I'm a bit backlogged :)
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