BITSTAMP:XRPUSD   Ripple幣 / 美元
Ripple has broken down from the bear flag , and is now under the black support level , testing the 200 EMA (in purple.) Should the 200 EMA , and the bottom of the parallel channel fail, XRP could plummet, as sell-side pressure continues to engulf the crypto space. On the MACD , we can see that downside momentum is increasing, making further losses possible. A breakdown would send XRP to the 61.8% retrace, at $1.40, then $1.25. This is an emergency update!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-
This analyses was spot on! Nice work!
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i see MACD divergence in 1 H chart so bears are loosing strength
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cryptoriches FateBreaktrader
@FateBreaktrader, so u expecting a uptrend from here on??
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MagicPoopCannon FateBreaktrader
@FateBreaktrader, MACD divergences should be taken with a grain of salt, unless other evidence confirms the legitimacy of the divergence. Keep in mind, that we are likely going to enter a panic selloff, in the very near future. Also, there is a famous saying on Wall St. "Never try to catch a falling knife." This market, is a falling knife.
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cryptoriches MagicPoopCannon
@MagicPoopCannon, thank you. there is serious erosion of wealth in any fall. Though I feel bad, this is nature of markets n wealth. Appreciate your response and thank you for sharing your views.

Cheers
K
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MagicPoopCannon FateBreaktrader
@FateBreaktrader, MACD divergences should be taken with a grain of salt, unless other evidence confirms the legitimacy of the divergence. Keep in mind, that we are likely going to enter a panic selloff, in the very near future. Also, there is a famous saying on Wall St. "Never try to catch a falling knife." This market, is a falling knife.
+1 回覆
FateBreaktrader MagicPoopCannon
@MagicPoopCannon, ok i just say let see what price action says.
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Indeed it is . . . .
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