Ripple facing tremendous bearish pressure!

BITSTAMP:XRPUSD   Ripple幣 / 美元
Ripple continues its drop and is seeing tremendous bearish pressure as it maintains its bearish channel formation. With continued bearish pressure, we see the first major level of resistance at 2.2225 (38.2% Fibonacci retracement , 50% Fibonacci retracement , horizontal overlap resistance, channel resistance) and a further drop could occur below this level towards first intermediate support at 1.5960 (61.8% Fibonacci retracement , horizontal swing low support) before major support at 1.2434 (78.6% Fibonacci retracement , horizontal pullback support).

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

This analysis is provided as general market commentary and does not constitute investment advice. We will not accept
1.25 is the way it goes, don't try to elevate this because the news if news where bullish we should see a real move, right now many people is buying at 1.25 so price is falling and then going up to wave 3 because we are in wave 2 of a large uptrend, hope wave 5 end in 15 usd or more, imagine you buy at 1.25 and you hold until 15 or 100, how much money could you make?
I just mentioned this exact thing on another idea. Ada and xlm is moving, while xrp is stuck...bears holding it down and accumulating for the right moment to let it fly.....coinbase listing
But @Tickmill is right the Selling pressure is tremendous and still very present. which is totally normal, the growth has been too quick and too big. So now the question is: will it find support on 128000 or not? ... Only time will tell. Good luck!
At this point both scenarios are very plausible. Taking XRPETH, It's the pair I trade.

But EEEEaaaazyyyy,

Buy order at 128700, if one of the next 3 candles (1hr) closes below 127500, you close the trade and make another buy at 87950.

Closing trading is not loosing. It is understanding the situation you are in and anticipate what to do next. I love closing trades because it means that I getting the coin way cheaper.

+1 回覆
xastunts BabasNumbaOne
@BabasNumbaOne, sure if everything goes as planned! closing it and then it jumps up again!! aaaaaah! I have seen it happens!
Any update please?
@alfamir, As far as I'm concerned, the prevailing bearish line has been broken- it's a buy for me.
+1 回覆
WizardOfRealms tradeformula
@tradeformula, agreed
+2 回覆
It will reverse now, because of fundamentals.
If it clears 2.25 range..then the bearish case is over ?right
English (UK)
English (IN)
Bahasa Indonesia
Bahasa Melayu
Tiếng Việt
首頁 股票篩選器 外匯信號搜索器 加密貨幣信號搜索器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
個人檔案 個人檔案設定 帳戶和帳單 我的事件處理號碼 聯絡客服 發表的想法 粉絲 正在追蹤 私人訊息 在線聊天 登出