🔥 XRP'S WILD WEEK 🔥
🔥 Before I start I just wanted to apologize, know it's been a few days and all since the last post, just been busy with work and some life things but that being said I'm happy to be back of course, even if it's just for a quick idea!
🔥 Got some pretty good feedback with my last short idea so we'll keep this idea short and simple too. To start off we've got the SEC decision with SEC losing it's motion to appeal Ripple's decision which only helped to boost XRP's argument and in turn caused the sudden rise up in XRP's price as displayed up above.
🔥 Not too shocking to see XRP's reversal after the sudden impulse wave up, we already know as I pointed out in my last idea how after these big jumps up we'll usually have some retracement or reverse trends pretty quick after with a lot of people taking profits or selling for other reasons of course. What I'm looking towards now is whether or not XRP sticks above 0.516. 051 has managed to keep pretty solid with XRP seeming to have much less selling pressure than before indicating that a lot more people are 'sticking along for the ride' so to say.
🔥 Main thing is that volume is still doing pretty well for XRP being that traders are still actively trading XRP through the exchanges showing there's demand and so far looks like we aren't doing to bad with what's been a slow retracement aside from losing the 200 EMA a few times but that's reasonable given the nature of the initial jump up.
🔥 I did add what seems to be a diagonal resistance line that's been acting as resistance and preventing us from posting/claiming higher digits. I expect it to act as a catalyst more than likely on the local for a breakout or act as a resistance as long as we remain below it. All I'm watching for right now but regardless it's nice to see that the SEC lost it's motion to appeal, that's a big win in my books either way.
🔥 Market's still wary understandably, especially with 30 year mortgage rates hitting 7.88% which is crazy considering we haven't seen numbers like this since 2000. I mean can you believe that, it's been nearly 23 since we last saw these rates, crazy to consider everything that's going on with the US alone adding over half of Bitcoin's market cap to it's national debt this week.
https://beincrypto.com/us-national-debt-half-bitcoin-market-cap-day/
🔥 Not mentioning those things to incite any fearmongering but rather the reminder that we're going through a lot right now collectively but at one point or another things will have to subside and the market will have to do it's thing. A lot of things are changing and with a Bitcoin ETF on the horizon in the next few months and people becoming a lot more knowledgeable about crypto and becoming tech savvy things are changing, may not be quick but each and every day we grow and get closer to a future in which crypto will come to play a role in our lives.
🔥 That's enough for today, I have a lot more things to to so I'm leaving the idea there for now, but I appreciate you guys tuning in of course, means a lot as always and wishing nothing but the best till next, feel free to leave any likes or follows as usual, simply helps me out, thanks.
~ Rock '
🔥 Got some pretty good feedback with my last short idea so we'll keep this idea short and simple too. To start off we've got the SEC decision with SEC losing it's motion to appeal Ripple's decision which only helped to boost XRP's argument and in turn caused the sudden rise up in XRP's price as displayed up above.
🔥 Not too shocking to see XRP's reversal after the sudden impulse wave up, we already know as I pointed out in my last idea how after these big jumps up we'll usually have some retracement or reverse trends pretty quick after with a lot of people taking profits or selling for other reasons of course. What I'm looking towards now is whether or not XRP sticks above 0.516. 051 has managed to keep pretty solid with XRP seeming to have much less selling pressure than before indicating that a lot more people are 'sticking along for the ride' so to say.
🔥 Main thing is that volume is still doing pretty well for XRP being that traders are still actively trading XRP through the exchanges showing there's demand and so far looks like we aren't doing to bad with what's been a slow retracement aside from losing the 200 EMA a few times but that's reasonable given the nature of the initial jump up.
🔥 I did add what seems to be a diagonal resistance line that's been acting as resistance and preventing us from posting/claiming higher digits. I expect it to act as a catalyst more than likely on the local for a breakout or act as a resistance as long as we remain below it. All I'm watching for right now but regardless it's nice to see that the SEC lost it's motion to appeal, that's a big win in my books either way.
🔥 Market's still wary understandably, especially with 30 year mortgage rates hitting 7.88% which is crazy considering we haven't seen numbers like this since 2000. I mean can you believe that, it's been nearly 23 since we last saw these rates, crazy to consider everything that's going on with the US alone adding over half of Bitcoin's market cap to it's national debt this week.
https://beincrypto.com/us-national-debt-half-bitcoin-market-cap-day/
🔥 Not mentioning those things to incite any fearmongering but rather the reminder that we're going through a lot right now collectively but at one point or another things will have to subside and the market will have to do it's thing. A lot of things are changing and with a Bitcoin ETF on the horizon in the next few months and people becoming a lot more knowledgeable about crypto and becoming tech savvy things are changing, may not be quick but each and every day we grow and get closer to a future in which crypto will come to play a role in our lives.
🔥 That's enough for today, I have a lot more things to to so I'm leaving the idea there for now, but I appreciate you guys tuning in of course, means a lot as always and wishing nothing but the best till next, feel free to leave any likes or follows as usual, simply helps me out, thanks.
~ Rock '
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