What happens with Ripple is something very curious, on one hand they have real followers who recognize the importance of the technology they develop, some other followers are only motivated by the gains they can get when pump and dump in short movements with strong volumes and in its against all those who do not support centralized developments.
XRP proves to be ending with a well-defined "ABCDE" structure, at first hand we can believe that we are entering an "ABC" correction before defining its new trend. Something very important to take into account is that this token was created for "work" it fulfills a function within its ecosystem and is not to be a "coin" or "pump & dump" token, so in my opinion you have to be very careful with the expectations and future plans, it is enough to take into account the amount of tokens that are in circulation, plus those in reserve.
In my case, this for a long time was a token of "refuge" a safe place for the stability it showed (i'm not a big fan of USDT), now and before these movements it obviously lost that function.
Open to wait for confirmation of the trend to plan something in the future. With a 1hr chart we can see a little more closely how it develops.
Happy New Year!!!
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XRP looks "stuck" for me, already hit the same resistance twice and it seems to be thinking what to do. Possibly some traders are reluctant to sell, expecting much stronger profits. From my point of view, C is still active, however I am open to continue upwards.
To help me make my decisions, I specified a work zone that limited a security area with Gann 2x1 angle, with the resistance above and a series of supports to protected my position.
(I know that Gann angles are very delicate and that you have to be very careful when drawing them, that is why I use them only as a trend reference.)
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Pushing up and trying to break the roof again...
Maximum level of protection activated with the three main angles to take care of the profit.
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I am going to close this idea because although I have been able to protect the position it is too far from the original idea published.
@normstock Hello friend. What is your take on the chart as it looks right now? You think it has initiated wave C yet? :)
normstock
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@Ishikura_Masaki, Hello!!, I'm still waiting for a little more information
Ishikura_Masaki
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@normstock, What would indicate a reversal/re-test of the high?
normstock
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@Ishikura_Masaki, What I'm still waiting for is an indication that confirms that it really intends to descend.
In the update I adjust (tighten) a little the support angle but it is respecting even that. If I had a position in xrp I would not worry as long as it respect the angles. Personally I would not buy now.
Obviously everyone should take their own decisions ... I just do what MY chart tells me.
I'm going to give it time ... there are many other options and I really do not like to try to guess ...