XRP is compelling in this area, but if $0.54-$0.56 area doesn't hold then we will revisit the $0.2226-$0.39887 range. Let's see if the 200 DAY and 30 WEEK SMA's can hold. That will tell us all we need to know for the short term...
For the LT I look at XRP as an OPEN ENDED CALL OPTION on the IoV. Stable company, good management team in place, let's see...
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If you took the trade, let's move our stops up to a nice take profit area. Not out of the woods yet and struggling at resistance.
You'll never go broke taking a profit!
Good luck!
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Time to move stops up again. If we break resistance at $1.02 we are gonna rip for real. Good luck!
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Looking at some serious resistance in the $1.00 area. Cut to core position and let's see if we get a better price to re-enter in the $0.75-$.80 area...
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With LTC breaking out and the rest of crypto looking low-key bullish, I really like this trade as a HOLD.
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Hopefully you've been using this consolidation period wisely. The sideways action at this level is VERY encouraging for the long term prospects of XRP. It appears that most large volume spikes are buy volume, though volume has been lackluster. Shorts should be getting nervous as the $0.85-$0.87 levels have remained VERY supportive. MA's are beginning to coil so a big move is on the way. I suspect it will be to the upside. Let's see.
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So here we are again...Holding the $0.54-$0.56 area is just as crucial as last time we were here.
A weekly close below the 50 week EMA at $0.5925 would be a crushing blow for bulls and could put those very ugly numbers $0.2226-$0.39887 we spoke of previously back on the table. Should that happen, XRP is a SCREAMING buy and I would add new money and increase my holdings back to 100%.
At the moment, the risk reward just isn't there, so we need to see a break and hold at the $0.72-$0.80 area to return to a bullish stance in these markets.
My long term view HAS NOT CHANGED. I believe that both Ripple and XRP have a VERY BRIGHT FUTURE. Best of luck!
@velter, it wouldn't shock me at all. Everyone expects it, that's the only reason I'm doubting it. :)
WizardOfRealms
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@kg3333333, check the 3 day chart w/ Bollinger bands and ichimoku clouds...
Its not just expected... it will hit the cloud line currently trending @ .22549
Then, quickly bounce back up.
I suspect it will be a "FALLING KNIFE SCENARIO" by Feb. 12th at the latest if not sooner.
kgbrah
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@WizardOfRealms, I took a look at your ideas...looks like you were getting long at the top. Check mine. I was getting long at $0.18-$0.25. Check my comments on other charts and you'll see I sold 50% between $2.70-$3.00 and another 25% near $2.20. I'm fully aware of the risks of trading this market.
If we break the area I defined above, I'll be more inclined to agree with you.
kgbrah
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@kg3333333, I apologize for being snarky. Felt like the comment was a bit condescending given the fact that I pointed out the $0.22 level as a strong possibility should price lose the level I pointed out in my title (which it has since bounced strongly off of).
it will be horrible for me to see that it comes until 0.2-0.4, it seems like a joke for me to see these values while my average xrp cost is 2,5 :( huge lost :( everyday I lose my hope about recovery