Price is still well within our weekly zone (left side), hasn’t touched the 20EMA yet (blue line), plus on the D chart (right side), there’s even more demand at $0.50 for XRP which lines up beautifully with the quite-major 50EMA on the W chart. If we get back down there, I’m buying more while the massive discount is there. Don’t let the fear shake you out. This is a time when we should be thinking – Buy.
I completely understand that most of this sounds like wizardry for most, but from experience, these kinds of things aligning all at the same time usually offer better possibilities for good risk/reward and return on investment ( ROI ) as opposed to buying when prices are high and everyone is talking well about everything.
Yes, the areas that I wanted to see price bounce from did not hold, but I am keeping in mind that the crypto market is much younger than say, fiat currency, stocks, bonds, , , etc. A great many times these level do hold in the crypto market and we need to be more liberal with them because of their age. How many times do you need to tell your toddler the same thing before they will actually do what you are expecting them to? It’s similar, I feel, with the cryptos.
Buying at these levels should allow us the peace of mind that A) we are buying while prices are very cheap B) going against the crowd (who do not have a good investing track record) and C) getting much more bang for our buck because the prices are so low. On top of all that – if our overall, long-term bias is Up for cryptos (XRP specifically…) Why not buy more while they are very cheap if we’re speculating for price appreciation in the first place…?
Now, the chart: (because that’s really all that matters anyway.)
The hero is the guy who runs into a burning building, fearlessly trusting that he will come out unscathed. (And even if he doesn’t and perishes in the fire, heck, at least he tried.)
Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.