Looking at the , we can see that there was a nice surge, that has been well above the recent average, which is good to see on the breakout. Additionally, the continues to expand higher, as it rallies above the zero line. We have , momentum, a breakout from a , and things are looking good. You can also see that XRP is holding above the 200 (in purple,) which it hasn't done since mid January. There are currently no signs of bearishness on this chart, so the bias is to the upside. This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!
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Instant settlement into fiat. Instant transfers between banks. Say what you will but XRP is on the technology edge. And tomorrow everyone will say this app does not exist. But it does...and if you understand Asia you know why they love Ripple.
I think it dumped temporarily when Coinbase dispelled the rumor. However, the chart was already oversold when it hit the 786 (which was near support). So, rumor or no rumor, the bounce would have occurred, IMO. I think the main resistance to look for is still set higher. (Albeit, things in this space can be manipulated.)
That said, I locked in profits on the initial 'pump' and already re-entered for round 2. Of course, my stop is in place, and I'll be watching closely for how things unfold, but the current analysis still leaves me inclined to believe we are still heading upward. Just not as fast.
XRP will be in the news tomorrow, and unless the news is bad, I wouldn't expect a wild dip down to 50 cents. Not yet at least.
Where is the best place to set a stop loss? Should he set it under the 786 to make sure he doesn't miss out on any upcoming bull runs or just sell now or something else?
Asking for a friend.