💥 XRP Tumble 💥💥 Thank you guys for joining in quick today, hope you ladies and gentlemen are doing alright, this won't take too long.
💥 following up from yesterday's idea we noted how XRP had exited from that descending channel however we failed to keep ahold of that 200 EMA thanks to low support with bears taking the lead as we fell through each horizontal level one by one as you can see, we'd battle sometimes then fall below and then it'd be a fight at that level and so on. The chart speaks for itself.
💥 XRP fell through the levels one by one and with that last loss of the 200 EMA we formed a mountain fall which ended up seeing us reenter the consolidation channel and rather quickly falling out of it by which once we did exit the channel that seemed to be some pretty good sell confirmation for whales and they definitely took that opportunity sending us down real hard on XRP and Bitcoin alike.
💥 XRP did find it's support above 0.50 cents again which is nice but still crazy to see that kind of sell volume though it's understandable, thus we've ended up down where we're at now, Bitcoin itself led the fall quickly falling from $27,100 down to below $26,500. Definitely seems like a planned sell by a quick of whales/institution, just a part of the market sometimes.
💥 All I'm watching for now is that we keep above 0.50 and 0.505 respectively, any lower below that and we risk a big chance of another sell-off. As of currently technical wise we've overextended away from that 200 EMA on the 15 minute in my idea and I'd expect us to at least get some kind of pull up and regain the 200 EMA in a couple of days if we're lucky.
💥I don't have any levels down here aside from that resistance at 0.515 and 0.514 but for now look to 0.51 as that point we want to break and hopefully form support above again. I know after big moves like this the market likes to consolidate and trade sideways a bit searching for the next move which will likely use the news as the next catalyst for whichever move/direction we may move. That or just whale activity. It's not easy being in a market like this but at least we know it's got it's good and bad days and we just have to face them best we can ourselves and not give up.
💥 I'm leaving the idea here for now but again watch 0.50-0.505 for support and 0.51 for that resistance with my other levels above forming resistance if we climb back up to them which will likely happen at one point or another. That's all for today, have a great day and remember, keep faith and never let something small ruin something way bigger. Always do your due diligence and stay persistent. And thanks for tuning in, you already know your free to leave a like or follow and if not, that works too, just keep well.
~ Rock '
