MagicPoopCannon

Ripple Prints A Breakout Fake Out — Watch This Level (XRP)

BITSTAMP:XRPUSD   Ripple / Dollar
Hi friends! This is a quick update on Ripple! Let's jump right in. On the four hour chart, you can see that we're getting some continuation selling here, as XRP takes out the 50 EMA (in orange) and appears to be moving back down to test the 78.6% retrace (in red.) The inverse head and shoulders pattern is still valid, but if the 786 is lost, some intense selling could ensue in XRP. If you read today's analysis on BTC             , you can see why I don't think this means the end for the upside potential. The same principals in the BTC             analysis apply here, but for now, let's keep a close eye on the 786. It is critical to hold as support, so if you're long, I would keep a close eye on that level as a strength indicator.

On the MACD , we've got a bearish crossover, and sell-side volume has increased on the chart. If XRP maintains support in this area, a reversal back to the upside could play out. As I said before, the inverse pattern is still valid, and it will remain valid, unless price action really starts to break down.

On the upside, a break above the red resistance zone will be very bullish . For now, keep a close eye on the 786, and the neckline resistance on the upside. This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

-JD-
Asiff Hirji, live on CNBC : "no, we are not going to add Xrp. I wanted to make a joke taking a picture with Brad Garlinghouse, but i did not as it would have manipulated prices too much.
We will not add Xrp to our coins."
Xrp tanking.
+1 Balas
thunderstrike Giorgioversace
@Giorgioversace, Alas XRP so many have been burned by you XRP, the only coin which is being used in real world to solve real money problem, being greeted good news after good news with new collaborations forming and agreements being signed, YET the only reason for you to balloon is hype of you being added on a corrupt exchange..ALAS.."A Tragedy of Ripple" shall be the new novel... for that I know your real value will never be more than 2.5$ according to the math and supply and market cap and how much you are going to be burned vs how much you are going to be released in the market...YET hype and speculation makes you dance like a puppet and so does to the investors...
+3 Balas
Giorgioversace thunderstrike
@thunderstrike,
Truth is that... Xrp is not beeing used.
Companies are TRYING Xrapid Xrp and Xcurrent. It is beeing tried out. Not used, not adopted. That is why the price is not raising.
Ripple is a startup that emerged recently, and that could close soon, this is a principle of a startup and its dangers.
Traders need to use their money the smart way instead of Hodling this asset and breaking their jaws.
Xrp should only to be bought as soon as we are aware of good news, and to be sold when investors are in complete FOMO and the price is in a quick local high.
This is an opportunity coin, that i like a lot for this reason, quick buy, quick sell. But that's all yet.
Balas
thunderstrike Giorgioversace
@Giorgioversace, agree on quick buy quick sell point, however it is being used already for example i know UBS, Westpac uses them...Moneygram is rolling out to use it (not pilotting)..Japan banks using it.. the adoptation is already there.
+2 Balas
Giorgioversace thunderstrike
@thunderstrike,
Are they using it, or are they trying and testing it, because it is not the same at all and it is not because a "partnership" is signed, that these companies adopted Ripple payment processes, all i saw was try out partnerships so far. I might be wrong
Balas
thunderstrike Giorgioversace
@Giorgioversace, Brotha, using it...(no trying , pilot, planning) using it..the fun bit is that not all of the products of Ripple company require XRP coin itself...thats the devil in the details.
Balas
Giorgioversace thunderstrike
@thunderstrike,
Ok, thanks.
This startup is not clear at all, to me it looks like this company is 90% marketing, 5% use, 5% unclear.
Balas
Giorgioversace Giorgioversace
@Giorgioversace, And the latter 5% is what makes me be worried about the way the overall startup works.
Balas
thunderstrike Giorgioversace
@Giorgioversace, Its best to invest in Ripple as listed stock rather than XRP coin itself
Balas
Giorgioversace thunderstrike
@thunderstrike,
1.000% agreed
Balas
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