This riddle of a prediction got me thinking about XRP. I want to see if this reddit riddler knows what he's talking about. Interestingly, the TA also hints that the bearish market could be over soon. All the stubborn bag holders have left XRP.
I know I sold most of my bags at small profit and am now buying back in at these lower prices.
Aug. 14: Alright, some thoughts after nothing happened:
TA still shows possible turn around after a retracement. No denying that. My prediction is that, if a turn around happens, it'll be at the purple line/near .883 fib.
Not sure why this reddit writer was so confident in his prediction. Makes me wonder where he got his information, as he was big-time right about an increase in the past. You'll notice they also mentioned November 4. I'll be watching that date as well out of sheer curiosity.
Aug. 21: It really seems to have bottomed around the .883/near the purple line. I'm strongly considering a buy. Fundamentals will be another excuse for this to increase in the near future.
In november or december not confirmed yet, Ripple will lock up 55 billions in an escrow. SBI group bank Japan, said they will use XRP live autumn/winter. Maybe he knows more than we know hahahaha
xrpxrp
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Thanks for the chart/ideas and also heads up to Mastodonic_ for insightful comments. Cheers
djz-chart
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Alright, some thoughts after nothing happened:
TA still shows possible turn around after a retracement. No denying that. My prediction is that, if a turn around happens, it'll be at the purple line/near .883 fib.
Not sure why this reddit writer was so confident in his prediction. Makes me wonder where he got his information, as he was big-time right about an increase in the past. You'll notice they also mentioned November 4. I'll be watching that date as well out of sheer curiosity.
Mastodonic_
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@DjAnky, What prediction? He said watch XRP August 13th and Nov 4th. He didn't specify anything about a price rise. He may be calling the bottom and eventual top of XRPs next bull run.
djz-chart
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This is a great idea. The two dates may refer to the bottom and top, based on the coin price. The TA definitely supports this theory.
Mastodonic_
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@DjAnky, 500 BTC worth of sell orders in increments of 30-40 btc have recently appears on Polo between 3790 and 3950. This is the first wall of this magnitude I've seen in over a month of monitoring. I'd wager someone is happy with where the price is sitting at the moment and has started accumulating because there is a lot of buying going on below it. And I do mean a LOT of buying.
It could also be a significant short position being exited quietly. Have to remember there's just as profit to be made on the way down as there is up. It could be interesting to see what happens once those incremental walls are dropped. I had a concern that the price could be hammered to the next support level of 2700ish but this activity suggest this was as far as the could get the price down.
Right now could be a really good time to buy, but this is XRP. I've thought the same thing at every new low the last month
djz-chart
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@Mastodonic_, Thanks for the info! That's very interesting.