Today I was watching "The Battle of the Quarter" - Ripple XRP trying to break above the Quarter Dollar resistance level. Based on how the charts look like, it seems it failed. So, following up on a previous idea, it should bounce back towards the 0.5 Fib. level around the $0.2 mark. However, as I mentioned before, even though I think that we can be short for some little profits, I strongly advise [B]BIG CAUTION due to a very likely price explosion of XRP, once Ripple makes the official announcement about locking down $55 bn coins.
Kommentar
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As a possible scenario, based on the 4h chart, we can see a support level somewhere around $0.21:
Trade geschlossen: Stop wurde erreicht
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It seems I was wrong and that divergence was a fake signal (or maybe I didn`t read it right). Well ... since long term XRP is a hold ... glad the price is going up :)
Hi, thank you for sharing your ideas! When do you expect the announcement about locking down of coins? Can it happen anytime? Thank you!
Haceru
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@atom145, Thank you for your interest. As per the official announcement from Ripple "before the year`s end". If it was me ... I would hold the announcement until it would make the biggest impact on the market, like for example when the BTC price will enter the downtrend (Bitstamp announced they will start trading Bitcoin Cash on the 7th of December, so maybe a few days after we will see a swap from BTC to BCH along with a major drop in price of the Bitcoin). That would be one possibility ... but we can expect anything anytime, that is why I cautioned about selling and rather buying in at a lower level for XRP.
leno1larios
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So, you recommend buying a shit load still?
Haceru
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@leno1larios, I can`t recommend anything since I am just an amateur ... however, I have been following Ripple ever since its inception, and always been long on it - that is for very long term, more like an investment. As a fundamental discussion about the coin, it has huge potential ... as a speculative coin, not so much. In this particular setup, my opinion is that we will see another big jump, similar to the one in April, somewhere around $2.00 with a very fast rebound under the $1 mark. But... that is just me, maybe too optimistic about the true potential of the coin to improve the payments system.