Incoming 40% collapse for XRP

** short term analysis, the days ahead **

Price action on XRP has returned an impressive 150% gain in the past 10 days. A number of reasons now exist for a reversal and correction. On the above daily chart:

1) RSI and MFI support breakouts. Don’t ignore a MFI breakout, this is informing you money is exiting the asset.

2) Confirmed Gravestone DOJI candle.

3) Price action is currently outside the Bollinger Band. We know 95% of price action trades around the mean, currently 73 cents.

3a) Notice the inward curve on the band? This little observation informs us buyers are exhausted.

4) Everyone on tradingview is long / bullish. Remember the majority will lose money.

Is it possible price action continues upwards and onwards? Sure.
Is it probable? No.

Ww

交易進行

domp et

註釋

A high probability sell signal now prints on the daily chart. A perfect short entry from anything near 1.30.
Can't say I din't warn you!

註釋

Have done a little more research on this idea as it is receiving a tsunami of criticism. Private and public.

"Idea aged like milk"
"Looks like you were wrong"
"Learn TA before publishing"

The last one made me laugh. Those were the nice comments.

What did the additional research gain me?

Nothing. If anything more facts.

The date was November 28th, 2020.
That was the last time "incredible sell" printed on the daily chart as it has done recently. Exact same conditions. A 70% correction followed. We're 6 days away from the 28th, 4 years exactly.

I don't know what is about to happen but consider this,

1) Bitcoin is 1.5k away from the significant 100k number, people have waited years for 100k. Sell fingers are on the trigger, you can guarantee it.

2) Youtube influencers "This is your last chance to buy bitcoin under 100k"
"300k in this cycle, get long before it is to late"

We're far closer to the market top (in price not time) that anyone will care to admit.

If you're long, I strongly recommend some profit taking.

註釋

Will be opening a "short" position, 1.63

註釋

Can't believe it, some bull filled the 1.63 position, right at the pivot.

註釋

High negative divergence, look left...

註釋

Ready for the 50% drop to 60 cents?
A bull tells me price action is going to $50 in the long term. What do you think?

註釋

Failed market structure at 1.41
A glorious day for the bears.

註釋

At my short entry of 1.63!
Liquidation good until $2.20!

A list of companies that now have a smaller market capital than XRP ($166 billion)
Unlike Ripple labs those companies generate an income from products and services.
The crypto market is certainly entry full crazy now... and yet many are calling this "the start of the bull run"

| Rank | Company | Ticker | Market Cap | Stock Price | Daily Change | Country |
|------|----------|---------|------------|-------------|--------------|---------|
| 88 | HSBC | HSBC | 167.93B | $46.68 | 0.78% | 🇬🇧 UK |
| 89 | AT&T | T | 166.96B | $23.27 | 0.78% | 🇺🇸 USA |
| 90 | Comcast | CMCSA | 162.85B | $42.56 | 0.19% | 🇺🇸 USA |
| 91 | S&P Global | SPGI | 162.24B | $522.86 | 0.17% | 🇺🇸 USA |
| 92 | Nextera Energy | NEE | 161.46B | $78.52 | 1.33% | 🇺🇸 USA |
| 93 | Raytheon Technologies | RTX | 160.17B | $120.34 | 0.22% | 🇺🇸 USA |
| 94 | CATL | 300750.SZ | 158.87B | $36.08 | 2.57% | 🇨🇳 China |
| 95 | Deutsche Telekom | DTE.DE | 158.55B | $31.85 | 0.03% | 🇩🇪 Germany |
| 96 | Progressive | PGR | 156.32B | $266.86 | 0.43% | 🇺🇸 USA |
| 97 | Lowe's Companies | LOW | 154.25B | $273.19 | 0.47% | 🇺🇸 USA |
| 98 | Fomento Económico Mexicano | FMX | 152.83B | $85.81 | 2.01% | 🇲🇽 Mexico |
| 99 | Charles Schwab | SCHW | 151.20B | $82.60 | 0.43% | 🇺🇸 USA |
| 100 | BlackRock | BLK | 151.00B | $1,019 | 0.68% | 🇺🇸 USA |
| 101 | Uber | UBER | 150.81B | $71.62 | 0.08% | 🇺🇸 USA |
| 102 | Amgen | AMGN | 150.54B | $280.07 | 0.02% | 🇺🇸 USA |
| 103 | Palantir | PLTR | 150.46B | $66.05 | 0.47% | 🇺🇸 USA |
| 104 | Siemens | SIE.DE | 149.36B | $190.70 | 0.22% | 🇩🇪 Germany |
| 105 | Honeywell | HON | 149.32B | $229.64 | 0.33% | 🇺🇸 USA |
| 106 | Union Pacific Corporation | UNP | 148.67B | $245.23 | 0.16% | 🇺🇸 USA |
| 107 | Stryker Corporation | SYK | 147.96B | $388.14 | 0.40% | 🇺🇸 USA |
| 108 | Unilever | UL | 147.88B | $59.74 | 1.08% | 🇬🇧 UK |
| 109 | KKR & Co. | KKR | 147.67B | $160.03 | 0.77% | 🇺🇸 USA |
| 110 | Eaton | ETN | 147.00B | $371.98 | 1.41% | 🇮🇪 Ireland |
| 111 | Pfizer | PFE | 146.37B | $25.83 | 0.23% | 🇺🇸 USA |
| 112 | Shopify | SHOP | 145.06B | $112.54 | 0.41% | 🇨🇦 Canada |
| 113 | Schneider Electric | SU.PA | 142.88B | $254.33 | 0.56% | 🇫🇷 France |
| 114 | TJX Companies | TJX | 142.51B | $126.36 | 0.13% | 🇺🇸 USA |
| 115 | Applied Materials | AMAT | 141.23B | $171.32 | 1.09% | 🇺🇸 USA |
| 116 | Arm Holdings | ARM | 140.17B | $133.37 | 2.45% | 🇬🇧 UK |
| 117 | ConocoPhillips | COP | 138.91B | $107.39 | 0.57% | 🇺🇸 USA |

註釋

Liquidation under threat! Bull what are you doing!?
Will add a little more...

Price action now at the April 2021 resistance.
Price action is also 4 standard deviations away from the mean!! 4!! If you're not a stats person,

“4 standard deviations is big. You just won't believe how vastly, hugely, mind-bogglingly big it is. I mean, you may think it's a long way down the road to the chemist's, but that's just peanuts to 4 standard deviations.”
― Douglas Adams, The Hitchhiker’s Guide to the Galaxy