XRP Bull trap, ALTS PullbackHi Traders, Investors and Speculators of Charts📈📉
A bull trap is "false" signal that shows a bearish trend (such as the lower highs in XRP) has reversed and is now heading upwards, when in fact, it will continue to decline. Often a large wick towards the upside is observed, shaking out traders favoring the obvious move (shorting).
It's important to note that for the first time, the TOTAL3 chart is about to close a red candle ALONG with Bitcoin Dominance:
This indicates that the entire crypto environment is being drained of liquidity, and corrections will follow.
Again, I wish there were more options... I'm choosing "short" to label my outlook even though I would not trade with leverage on XRP. The bulltrap and the TOTAL3 chart indicates we're heading lower, and so my bias for the short term is testing next immediate support zones.
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BINANCE:XRPUSDT CRYPTOCAP:BTC.D CRYPTOCAP:TOTAL3
XRPUSDT
XRP - Top Gainer, HEAVILY OverboughtHi Traders, Investors and Speculators of Charts📈📉
As promised, a short term update on XRP.
It's important to remember, the price action we're seeing on most altcoins right now is due to rotations between BTC and alts. More info on this topic here:
XRP is notorious for making untimely, parabolic increases and falling just as hard shortly after. XRP can trade with an extremely overbought RSI for days and usually defies natural technical indicator logic (such as a pullback after hitting 100 on RSI), therefore trade with extreme caution.
I'm labelling this idea as 'long" although I wish there were other options to choose from. Perhaps bullish or bearish, short - near or long term etc.
Understand that I do not mean to indicate LONG XRP. I am quite against trading leverage on risky coins, but considering those are my options - I do see the price going up, that is just what happens in bull markets so ...long.
The path to $1 is clear, but first I expect another rotation back into BTC.
I have my targets set to make sure I catch those untimely wicks.
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BINANCE:XRPUSDT
XRP RIPPLE Technical Analysis And Trade IdeaConducting a meticulous analysis of the charts reveals a retracement in XRP from its recent peak. A discernible observation on the weekly timeframe indicates an overextended bullish trend with a current pullback underway. The pivotal query revolves around the extent of this retracement – will it deepen, or is there potential for a rotation at the current level, aiming for liquidity beyond prior highs? Our video delves into diverse time frames, culminating in the identification of a prospective trading opportunity grounded in market structure, price dynamics, trend analysis, and other critical facets of technical evaluation.
It's crucial to emphasize that the insights presented herein serve an educational purpose exclusively and should not be interpreted as financial counsel. Engaging in the foreign exchange market and cryptocurrency trading inherently entails a substantial degree of risk. Consequently, it becomes paramount to judiciously integrate robust risk management strategies into your trading blueprint to adeptly navigate the associated challenges.
XRP : Short Term, Take EXTREME CAUTIONHi Traders, Investors and Speculators of Charts📈📉
As promised, a short term update on XRP. It's important to remember, the price action we're seeing on most altcoins right now is due to rotations between BTC and alts. More info on this topic here:
Again I think there are better buys in the market than XRP right now. Alts with way better setups.
Incase you missed the previous update, here's some really important notices from my side. Also hence why I'm advising caution when trading XRP, especially if you're trying to swing trade:
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XRP 4HR Analysis: Key Levels: .60 and .66 4HR 200 Moving AverageXRP is currently consolidating underneath a zone created by the BIG run up it had around July 13th.
Next we will make another push higher to and above .66 or get a clear rejection sometime soon down to under .60
Alerts set at .60 and .66
Once Triggered I will watch the 1HR timeframe to anticipate the next move.
XRPUSDT - nice pump i wait next pumpall information i said on video
let's see how to work my idea
if you like the idea, please "Like" it. This is the best "Thanks!" for the author 😊 P.S. Always do your own analysis before a trade. Put a stop loss. Fix profits in installments. Withdraw profits in fiat and please yourself and your friends.
XRP: Price levels and price action analysis Today's focus: XRP
Pattern – Breakout
Possible targets – .90 – 1.00
Support – .52 - .54
Resistance – .90 - .92
XRP soared on Thursday after Ripple Labs won a partial victory in their court case with the SEC. This is a big deal for the crypto industry, lifting the broader market. A judge ruled in favour of Ripple that they didn’t violate federal securities law when selling XRP tokens to the public.
Ripple jumped after this news hit the market and quickly hit .92 before pulling back. In today’s video, we run over the price levels and price action we are watching moving forward after this move.
Have a great day and good trading.
Why I'm Bullish on XRP: EXTRA for ExpertsHi Traders, Investors and Speculators of Charts📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year 🏫
If you have been following for a while, you'll know I have strong feelings for XRP. (just kidding), but I do believe in the fundamental arguments for XRP, as I have pointed out many times in the past on the videos.
But unfortunately, as it goes with XRP, the price hardly moves... Today I take a deep dive into the charting, and explain why I believe upside is finally on the horizon for XRP from a technical perspective.
Tomorrow I'll update with an XRPBTC view as well as a technical indicator analysis.
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CRYPTOCAP:XRP BINANCE:XRPUSDT BITSTAMP:XRPUSD BINANCE:XRPUSDT.P KUCOIN:XRPUSDT BITFINEX:XRPUSD BINANCE:XRPBTC BINANCE:XRPBUSD
XRP ARMY💂♂️ XRP Accumulates, Rally Next?BINANCE:XRPUSDT
Hi Traders, Investors and Speculators of the Charts 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year.
As you all know by now, I'm a huge fan of XRP. The fundamentals are promising, and I've done a number of posts on these. However, today's analysis is a quick look at where we are in terms of the MAcro cycle on XRPUSDT. We take a look at trendline analysis, support zone and resistance zone, Fibonacci as well as the new CryptoCheck START V3.5 Indicator to give us an idea when we might expect to see a parabolic run on XRP.
The XRPUSD chart is self explanatory and in it's complexity, it's actually pretty simple : Buy LOW, sell HIGH. Don't be greedy, take profits.
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XRP : Whales Asleep, Bears defend $0.55 Hi Traders, Investors and Speculators of the Charts 📈📉
If you've been following me for the past year, you'll be well aware that I am notoriously bullish on XRP. However, today's analysis on XRPUSDT is focused on the price for short term, and for that I like to pull up the technical indicators RSI, LSMA, EMA and Momentum. My favorite indicator, the Phoenix Ascending, points to more possible upside price action for the immediate term. However, it's also noteworthy that the buying pressure is running out, as observed on the momentum.
Usually when XRP rallies, it shoots through 2 - 3 resistance zones. We're currently struggling to capture the first one above, so it may seem that this is not the candle that's going to go parabolic. For now, candles need to keep closing above the BLUE zone, which is now the support zone.
Here's a quick look at XRPBTC . Overlaid in this chart is the XRP line chart and the BTC line chart.
We can see that XRP is overdue to gain some grounds on BTC and from past scenarios we can tell that when it finally does, it will be a facemelt. It's also important to note that XRPUSDT is prone to pump and dump and can act very wicky therefore the best strategy is to have your targets pre-set for TP.
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XRP vs SEC: Latest Update & Price WatchHi Traders, Investors and Speculators of the Charts 📈📉
In a previous post, I discussed the fundamental impact of Harvard declaring that XRP and XLM will be the future of payments (yes, this really happened) :
The latest update in terms of the SEC case against Ripple, is potential Ripple win against the SEC after the attorney said the SEC has admitted that Ripple is a software code. Forbes columnist who’s diligently tracking the Ripple/SEC case has requested access to the Hinman speech as she believes it to be game-changing for the entire crypto industry. An XRP enthusiast noted that Ripple’s sale of XRP since 2019 has only been for ODL transactions, thus, they won’t constitute for being a security. As per the latest development, Forbes journalist Dr. Roslyn Layton has filed a motion for intervening and seeking to access the document of Hinman’s speech from the court.
Although assets like Ethereum (ETH) have stayed outside the SEC jurisdiction, Ripple is facing a billion-dollar fine. “That inconsistency has given rise to grave concerns about potential conflicts of interest, because Hinman had a financial stake in promoting Ethereum to the exclusion of competing coins like XRP,” she added. Ripple has been arguing that the former SEC chief Hinman said in 2018 that Ethereum isn’t a security. Thus, the same rules should be applicable to Ripple, argues the blockchain startup. While speaking at the WEF 2023 summit earlier this year, Ripple CEO Brad Garlinghouse said:
When those come to light, I think you’ll see more how it is possible that the SEC decided to bring a case against Ripple, given what they were saying within their own walls.
When I had to decide how I will label this post (bullish or bearish), I pulled up my favorite technical indicator: The Phoenix Ascending. This indicator contains the RSI, EMA, LSMA and momentum. From the FA, we can see that the short term buying pressure has picked up, therefore I expect more upwards price action for the short term:
Remember the saying; buy the rumor and sell the news. I believe this is what's happening now on the charts, considering the positive outcome of the last hearing. Ultimately, I remain a believer and I am still fundamentally bullish on XRP for the future.
Interested in more altcoins with good trade setups? Checkout this idea:
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