BTC inverse correlation to XRP doesn't seem to be working now. BTC is falling and XRP is also falling. How do you explain the current situation?
ib2k14
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@sedwargul, I don't see XRP "falling", instead it is ranging in a tight range (between ~2.15 to ~2.85), waiting for a breakout. I expect the range to hold until important news are communicated by Ripple (Q4 announcement, etc). Meanwhile a lot of money flows into ETH which is currently "pumped" (aka heavily manipulated) by big money. I expect the money flows back as soon as there are positive XRP news.
Don't panic, keep calm and wait :-)
inv1sion
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Beautiful, i think we may be looking at higher gains though this time (based on past spikes). If it goes to $4 it will most likely go to $4.30 before correcting down to ~$3.40 (as seems to be a pattern with XRP) . If it can sustain high enough volume and push past that it will just keep going closer to $5 and correct a bit higher around $3.7 or so. The news plays a huge role in this game. I would wait until is see it test the resistance a time or two before placing the sell. Better to miss out on 10 cents than to to miss out on the possible rise this time. Also, XRP did not hit ATH until the second peak last time..Something to think about.
Also, spot on with the BTC correlation. I traded for ETH last time and lost $2,000 while it was sitting in the ETH wallet waiting for the bottom of XRP. Meanwhile, BTC went up. Thanks for adding that into this, everyone should know.
Thanks for the graph, Good luck.
ib2k14
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@inv1sion, thank you for your comment, glad it helped a bit. good luck with your trading :-)
QuantumShift963
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Nice observation, these are the same kind of patterns/trends I look for when playing pick 3 lottery games, learning slowly, but learning