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SBI | Still showing weakness | Downtrend continuesFriends, please support this idea with LIKE if you find it useful. Downtrend continues. Use the pullback to get in. Thank you for your support, I appreciate it. Disclaimer! This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
NSE:SBINShort
by Fx_Stormtrader
XRP Video UpdateAs expected, XRP is coming down in price and I believe will ultimately align with the long standing support established in 2017 leading up to the boom in December. We're aligning with that price on 8/4 provided we stick with the current bearish trend, which I believe is the perfect buy set up, and lowest low we'll ever see for XRP moving forward. Based on my expectations for the price of the upcoming boom, this means a 430/1 risk to reward ratio. Whew. Let me know what you think!
BITSTAMP:XRPUSDLong
by tradeformula
2
The stars are aligning to welcome XRP.. Hello all, back at my weekly update and so far so good, all the movement that we were expecting as per the triangles and the resistance lines followed the script.. but now there has been a minor break of the triangle, could be a false break as I am expecting it to retrace back to the 0.45-0.46 level and then start its journey upwards.. A daily close above the 0.52 level would be a good entry point in my opinion as that is a key resistance that XRP has failed to break on several occasions. The other key resistance I feel is at the 0.73-0.75 levels. In my view, after 7 months of agony that investors have faced this year - hoping, praying, waiting patiently for the storm to pass, some losing faith, some weathering the storm, some drowning.. suddenly the clouds have broken and the sun seems to be breaking through.. We are right at the SBI launch, the Nasdaq backed exchange is round the corner, Coinbase has got the green light to list tokens that may be deemed as securities, addition of other XRP fiat based exchanges etc etc.. logically there is no reason for XRP to go down except unless BTC crashes, but then considering the fundamentals of XRP and whats happening this month, this fall would be very short lived.. the only way I see XRP going is UP.. not expecting any spike but a slow and a very assured growth in the value of XRP in the coming months. Sit tight, I think the ride has just begun.. My opinion is partially based on my chart above and partially on whats happening around in the news.. but please DYOR and trade as per what you think is right. Good luck !!
BITFINEX:XRPUSDLong
by RudRish
22
Houston! we are ready to decouple from BTC station.. Countdown!Back again with the weekly - part 5 of the same 1D chart outlook (with a slight micro view this time), as you can see from the chart the triangles have held and so has XRP despite the FUD and the lawsuits - but then again, its expected and people will always find a way to create FUD. What XRP is doing by launching XRP based exchanges through clients is ensuring there is a bagful of XRP in the market that they are targeting for Xrapid and Xvia, the institutions can purchase from the exchange or from Ripple directly as per the 1 Billion/ month ESCROW pact. 18th July and 25th July, two dates with two big exchanges going on line with the fiat to XRP option, not saying that there arent any existing already.. but the sheer client base available to these exchanges catalyses the whole decoupling process. The Key is the volume, and thats what these exchanges will bring to XRP (thats why Coinbase WAS important). From a technical point of view, The 0.49 to 0.51 level is key in my opinion as its the convergence of several parameters such as the top channel of the 2017 trendline, the EMA, the previous key support turned into a strong resistance etc.. I expect a rise this week and hitting the 0.51 mark followed by a quick test of the 0.475 level to ensure it can still be trusted as a key support. Once the 0.475 levels confirm their loyalty, expect a quick rebound past the 0.51 key resistance taking us to the 0.69-.71 range by the end of July - another key resistance range. I do not expect the 0.69-0.71 range to hold for more than a couple of days, post which we should see us trying to breach the psychological barrier of the ONE DOLLAR mark by mid August. My opinion is that we are close and that this month and the next (August) are crucial for XRP, but feel free to advise me if your research says otherwise. These are just opinions and not to be taken as trading advice under any circumstances. Good luck.
BITFINEX:XRPUSDLong
by RudRish
3
Yes, XRP's time is coming.. the path is clearing Hello again, updating my chart once again and shall keep doing so till it continues to remain valid.. We did break through the 0.49 mark that I had mentioned earlier but XRP fought back any further decline below 0.45 mark quite well and continued to stay there, consolidating its stand. The movement is still within the 2nd triangle but is now moving closer and closer to the vertex of the triangle, looking for a break out. The current movement of XRP is trying to break above the 0.51 level mark which is within the 0.49-0.51 resistance range, this resistance is further solidified by 1) the extension of the upper trend line of last year's pre-breakout period and 2) the 21 EMA line. At this point, breaking this is the key to further gains IMO (marked as 1 on the graph), a failure to break this will see a decline again towards the 0.45 level where XRP would consolidate again to make a push (marked as 2 on the graph). There is a very very unlikely third scenario, breaking below the triangle, should that happen, we would most likely see 0.31 levels and when that recovery might happen.. well.. I dont think anyone would be interested to know as all would have given up hope :( Whether we break this key resistance today or in next couple of weeks is to be seen, but break it will this month, considering the launch of SBI exchange on the 18th of July and the NASDAQ backed exchange on the 25th of July. For XRP to rise independently, these two exchanges will help in decoupling it from all the baggage that BTC carries with it. I strongly believe that July and September (crucial months) will light the path that XRP will take and in my opinion with all thats going on for Ripple labs, there is only one path for XRP and that is UP. Once again, I may be completely wrong and delusional.. so please form your own opinions and trade wisely.. Best of luck to all
BITFINEX:XRPUSDLong
by RudRish
XRP still on schedule to get there.. Just refining what I had published last week.. The graphic is self explanatory I think.. expecting XRP to stay range bound for the next couple of weeks.. bouncing off the 0.49/0.51 levels to 0.55/0.56 levels. Expecting this ping pong to last for another 20 days (of course frustrating a lot of investors, just like they were frustrated when XRP refused to cross the 0.26 mark in Oct/Nov 17) but come Q3 a lot of positives will start coming in for XRP and I expect some big names coming out in the open with their tie ups with Ripple as well as the existing partners starting to show savings that XRP is bringing in their books by end of Q3..maybe some might be able to demonstrate this on their Quarter on Quarter results.. Q2 v Q1. Anyways if you are an XRP investor, you already own the best token there is with use case .. so be patient and dont worry about the FUD, it will all pass. Good luck. Once again.. its all my views.. not for anyone to take them seriously and trade around it.. DYOR
BITFINEX:XRPUSD
by RudRish