XRP is in a position to breakout - however, the question of which way remains unanswered. The price has yet to break the symmetrical triangle pattern.
We have not seen the MACD crossover yet. RSI is neutral, neither showing an overbought or oversold position. How would I trade this if I weren't in already? See below:
Once we see MACD crossover (blue line cross orange on the bottom of the chart), I will enter in a long position. Stop-loss under 0.003798 in case of a bounce off support. As always, if you want to be conservative for your trade, wait for the price to break the upper trend line and close above (1hr candles). Then place stop-loss around 0.004035.
So why am I taking a long position? The potential for XRP is crazy high (see ATH). Along with the potential of being added to CoinBase, the coin has high reward and low risk (minimize risk with the use of stop-losses). I will enter these trades being okay with losing 20%, knowing the potential gains.
Hopefully this helps somebody out there. Cheers!
Kommentar
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Update #1: we have had the price close above upper trend line. Once, MACD crossover takes place, buy will be initiated.
Do you think it will be one of the coins added to coinbase? This will be a game changer. I reason lost on XRP, bc it moves so slow. Then all of a sudden a week later it broke out. Circulating supply is so high. How high do you think this coin could go?
DakotaPark
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@cryptonic919, The case for Ripple (XRP) being added is pretty strong. Same with Monero (XMR)
DakotaPark
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@cryptonic919, many people will agree that XRP is undervalued currently and has a very high ceiling. To get an idea of how high it can go, just zoom out and look at previous ATH. If added, I expect this coin to soar.
cryptonic919
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@DakotaPark, Great. I really do appreciate this information. Can I follow you on other social media platforms?
DakotaPark
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@cryptonic919, By all means go for it. I don't post crypto information on my social medias. I'm somewhat active on instagram @D4Kcity but if there are other platforms you use specifically, lemme know!