Don't forget the picture, XRPHi,
I know it has been a while, and to my surprise I got a couple messages asking for an update as the market has had some significant movement recently. Finally ! This volatility is good news for us traders and also volatility is the sign of a market waking up . (that does not mean bull run, it means price fluctuation will get bigger)
Of course, we have a 14 percent surge and the hole community goes screaming mooon, don't miss out...
How ever, if you just take a step back you will quickly see that you should calm your horses, volatility is one of the major attribute of the crypto market, it what makes it so good for trading.
Hopefully you guys were able to catch this great move, I caught it but unfortunately cashed out after 5% gain. When I saw it go 10% higher, I did not get freaked out and bought in, I analysed and tried to understand why, I did not re enter any position as it was risky and did not enter in my trading strategy. RULE N1: respect your rules !
Remember when you win money some one else is loosing money, so if only 1% of all traders make money out of trading, that means that all that wealth is going to 1% of all traders ! This is not a fairy tale, it is basically a fight to steal money from others , people often forget this. Risk management is key in this market especially when it is unregulated, crypto is like the wild west of markets .
So, what is happening is the financial institutions and whales (the top 1%) are getting people hyped up, we suddenly think the bull run is here and buy in after 10/15% surge. When suddenly the hole market drops down to new lows and we are back to the "ah I told you crypto was dead". Basically, keep a clear vision of what is happening and don't let yourself be manipulated.
This being said, I would just like to say keep an eye out on this weekly candle, if it closes under the trend line, we are still in a bearish movement, if it closes on top. Then we could see a surge to the 0.40/0.60 region .
If this does happen, I will still stand by my opinion that we have still not seen XRP's low yet .
I would just like to finish by saying, if you are investing in XRP, 5 years down the road you will have made a lot of cash thanks to this investment. The potential price of XRP by 2030 could be 5000$ , and if not at least 300$ .
So for the investors just hodl, and for the traders analysis and keep your emotions away at all times.
Have a nice day,
Happy trading to you all.
