I set the pitchfork to the new value and the drop is more pronounced. I think the support (and psychological barrier) of the 1.5 will be tested and may not hold, falling to $1 support (another psychological barrier - but much stronger). There are a lot of people waiting for $1.0~1.2, so I suggest fragmented purchase orders. I strongly believe it will not go down $1. The long-term trend is to value go up, really up, may $10 in max 2-3 months, as the Ripple company is working hard to extend the use of the protocol. There has happen a disaster to make the price go down below $1.
N2: low risk, for holders only. N1: high risk, traders, holders experts.
Komen
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Donations XRP: rNco5tULm3YB7TYsJ52t4JDEyfWzDrrm5K
Komen
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Pay attention!!! -> I'll sleep now, so if the price break upside the pitchfork with a complete or almost complete 4h-candle, the price may get around 2.5 or more. I make orders around $1, just to not lose a possible good chance.
Komen
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Another import observation: The price $2 is another psychology barrier, it is the reason for this short high.
@ysraell1, Im keeping a close eye on the movements, although Im not day-trading, I want to get a feel for how to spot the trends. However, I bought xrp yesterday, at about 2.80USD, I want to be in this for the long haul, hoping for it to go to 10USD. Would you wait it out? Thanks!
You bought it on a very steep climb, not good practice. It is recommended to buy at the end of a correction, in a consolidation or when breaking resistance lines (to up, not support lines - to down). In your case, you should have expected a resistance line to be broken, more precisely the $3 barrier, so that we would have a strong high up to at least $4. When buying before, as the price did not hold, it ended up losing value. It would have been important to have put a stop loss at least 2.4 (see that a support was formed at 2.5).
Importantly, if you sell now, you'll have to stay ahead to buy back later and hope for the value to drop to $1, if you do not sell, expect to exceed $3 and sell on a next sale recommendation. If you will wait the $10, just hold. Your are only a long-term trader (holder), keep calm and keep holding =).
SayeretJoe
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@ysraell1, Awesome advise!! Im a kind of new to this as you can probably tell! I really appreciate you taking the time to explain to me now I know that Im a holder!! :)
ysraell1
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@SayeretJoe, Sorry, I want say "If your are only a long-term trader (holder), keep calm and keep holding =)".