XRPBTC trade ideas
XRP - Keeps dropping against Bitcoin but for how longSo yeas Ripple drops against the bitcoin, as well as against the dollar.
Soon there will be an opportunity for Ripple to rebound and that will be the moment to consider a reversal (start buying Ripple again).
How do we trade this now? Well we hedge, we buy Bitcoin and we sell some Ripple. This can change in the next 16 to 48 hours (4 to 12 4h candlesticks)
Keep in touch.
XRPBTC lost its daily support 🦐XRPBTC lost its daily support and now the price is inside the descending channel. The price could retest 0.382 - 0.5 Fibonacci level before reach Monthly support. According to Plancton's strategy (check our Academy), we can set a nice order
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Dump xrp if it could not maintain 2500 satoshi! From the time I got to know xrp, 2500 satoshi has been an essential static support/resistance.
I cannot definitely advise whether it could maintain this level or not, but if it does, the next essential resistance is 6000 satoshi which is some 140% more than current price.
In case of failure I will say good buy to xrp for some times (maybe forever).
Risk to reward looks promising!
This is not a financial advice!
XRP will drop at least 13% against BTC XRPBTC chart shows that there will be a drop of 13% in the price of the Ripple in Bitcoins to reach critical support.
To make things worse for my Ripple friends, this drop can reach even +51%; if the support is broken.
This means that if both cryptos drop, Ripple will drop faster than BTC (which was the case last week).
It also means that BTC can rise faster than Ripple for a while until it rebounds.
This is the prognosis for the next few days/weeks but this can change dramatically at any point in time if Ripple storms up again.
For the moment, the chart demands this: Buy more BTC than Ripple for the next period. Or buy some BTC and sell some Ripple to hedge your positions.
I know that some of you are big Ripple fans and you guys hate me saying Ripple isn't going to 50 dollars this years, or even 2 dollars. It might happen next years boys and girls.
XRPBTC DO or DIE TIME!!We should get a bounce from here... (0,00002500 Sat )
- bull flag
- 27 MA support 2D, 10D, we have 21/27 weekly MA and 50 weekly MA
- Stoch RSI daily at the bottom I expect a positive flip.
for now, I am aiming for 0.00003360 SAT as a target. we have money 21/50/300 MA as resistance and also monthly close from last m month.
- What I want to see weekly 21/50 MA bullish cross
- price breaking 0,00003360 sat with strong volume which is also 0,702 fib retracement at.
if we break below 0,00002464 sat daily close I will exit from this coin.... this means price going below 21 weekly Ma
and also breaking big support I see no hope for it
Target at this moment:
0,00003360 ( 21 Monthly MA)
0,00003774 (200 MA weekly, 50 MA monthly as resistance)
if we can clear these 2 target expect more explosion form XRP
Must hold/support:
1: 0,00002460 ( this arena been acting as support and resistance since 15 September 2015)
2:0,000021xx
$XRP/BTC 12h (Binance Spot) Falling wedge on supportMy #Ripple view for satoshi pair, right now sitting on falling wedge support and 100EMA.
Current Price= 0.00002605
Buy Entry= 0.00002650 - 0.00002506
Take Profit= 0.00002958 | 0.00003394 | 0.00003883
Stop Loss= 0.00002198
Risk/Reward= 1:1 | 1:2.15 | 1:3.43
Expected Profit= +14.74% | +31.65% | +50.62%
Possible Loss= -14.74%
Fib. Retracement= 0.236 | 0.5 | 0.786
Margin Leverage= 1x
Estimated Gain-time= 540h
Swingtrade Quickpost: XRPXBT shows overall market bias.XRP basically is the whole cryto market on stimulants in bull markets and on downers when in bear markets. For years it was called a stable loss coin and then it showed a whole lot of life for the week before Thanksgiving before dumping. It seems clear now that there was a descending that has broken to the downside and now I am just waiting for this continuation pattern to develop. It is still a bit early to call it a pennant or rising wedge or symetric trianlge and each of those formations has a different precice target so I have boxed out a range. Two of the of the most obvious places for the continuation pattern to find resistance are the long term EMAs I am showing as well as the base of the triangle.
If XRPXBT is looking at falling almost 30% I would be guessing that BTCUSD would be looking at a 20-30% drop and XRPUSD would be looking for a 50-60% drop. Due to what I have seen in the eurodollar (GE1!) price action have closed my crypto holdings, moved to fiat, and am shorting. XRPXBT will be one of the charts I look at to judge when the broader market is done selling off if I am correct.
And I have to be transparent, my bias has changed to bearish over the short term based on some larger things I am seeing in the market. I don't want to be the guy who is always looking for one last dip. My bias will be invalidated in part by watching how the 200 EMA will act. It is falling rapidly and think when it hits price action we will see the dump I suspect is coming. Below is a downtrend from this August which I think would be a reliable fractal to look for repetition but on a different timeframe. All in all a quicker consolidation, a higher high and a higher low is macro bullish but it comes after one last beating.
I'll look at stepping up as a buyer when we get to target or the 200 is support.
XRP is at the 61.8 1D fib and 50 EMARecent PA - especially on 4H has been respecting these fib levels - it would be great to see 61.8 hold from here and be the end of the correction but the recent bearish impulse wave was quite strong. Maybe we'll see it dinging around between 50-61.8 for a bit.
The daily 50 EMA is where price is sitting as well so that could help support it as well. 61.8 retrace is a good place for a correction to end - c'mon XRP...
XRP/BTC : What are the important areas? - Airdrop approachingJust wanted to give a quick update on XRP/ BTC - the airdrop approaches on the 12/12/20 and every holder of XRP will recieve 1 SPARK token for every 1 XRP token they hold.
It sounds great on paper - but many new investors see this as a easy way to make "free money", the risk being after the airdrop occurs the main token can plunge leaving the investor with a largely devalued asset & if the free token from the airdrop does not hold value you put yourself in a bad position.
One strategy you can use to prevent this is using a trailing stop loss, or manually raising your stop loss as price increases. You may get knocked out and lose your chance at a airdrop - but more important is not losing your initial investment or having a extremely large dint in your portfolio from bag holding a failed airdrop hype.
Right now XRP is showing some Bullish signs - for example the Bull Pennant pattern (where price makes a straight run upwards then converges inbetween a small wedge with 4 touches, a potential sign of continuation upwards) but signs are just that until proven true. We are still under some important resistance areas, and i give a warning that if XRP BTC loses the key support area of 2900-3000 a significant decrease in value is possible.
The Bull Pennant pattern is not the only mixed signal here- it has a high success rate - but all patterns can fail. We have been making consecutive LH's Lower Highs which are a sign of a downtrend continuation, but we are also making a LH (Lower High) which is a sign of a uptrend continuation so XRP is coming to a pretty crucial area and we should see confirmation of direction soon.
The fibonacci tool is usually drawn from one key swing point to another - and gives us potential key levels to watch. It is quite common for the price to come up to the 0.618 fibonacci and decrease in value, rejecting from there. Right now XRP has currently come down from that area, aswell as a Supply Cluster (if you dont know what a Supply Cluster is; click on the below linked idea for a in depth guide on how to use them in your Technical Analysis ), basically a Supply Cluster is a small rectangular formation where a large decrease in price occurs from - when price revisits this area it is common for it to decrease in value once again.
These factors lead me to believe that short term the 0.618 & Supply Cluster is the most important point of reference followed by the support under us. So while we are under the 0.618 resistance area i would be wary on XRP. If it does start to increase in value as a trader i would definately consider a plan to take profits and be out of the trade before the Airdrop ends if thats what your aiming for - or know where your going to cut your losses if thats the case, as mentioned under 2900-3000 satoshis can see a large retrace with a potential of moving down towards 2400-2500 satoshis.
If you were wondering what the zones you can see on the charts are - they are explained in the bottom linked idea :)
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