[XRP] Is This A Good Time To Buy Ripple?

in #crypto6 years ago

So it's 6:50 AM in the morning where i Live and i just happened to be looking at the XRP chart and i decided to share my opinion with you guys. I've got some of my holdings in XRP (mind you i bought back when it was trading at 0.00006400 btc) which i don't consider touching in the meantime, it'll be more of a long-term sort of thing.
So let's get into some charts.

Source: TradingView - XRPBTC chart
Indicators : Bollinger Bands & Rsi

This is the 1 hour chart, and as you can see, XRP has seen it's current high not just too long ago (12-04 09:30 PM) so we're obviously expecting it to swing and bounce at it's current price range before dipping back down with what may be a semi-strong bearish trend to it's new support line at 0.00007 btc.
As you can see, we kind of have a cycle here so if everything falls in line, we may have a lot of swing trading in XRP and not much of bullish trends as we've seen this past week.

xrp1.PNG

Here's the 30 minutes chart to give you guys a more profound explanation.

xrp30.PNG

If it does seek support at the middle pink support line then it probably won't stay there long at break down to seek support at second darker pink line before pulling back up with a strong bullish trend.

To sum it all up, this wouldn't be a good time to buy some XRP considering also the recent dip in volume from all trading platforms. Here's an idea of what the XRP market looks like now.

xrp3.PNG

So guys feel free to comment what you think below! Do you think XRP will get to the resistance line at 0.000095 btc or do you think it will most likely dip back down to the horrifying 0.00007 btc support line??

Disclaimer: I am not a registered Financial Advisor nor am i qualified to give advice on when to buy or sell. Any action taken on the basis of this post is not my responsibility. I am not receiving any remuneration for writing about these ICOs. If you're really interested in making money from cyptocurrencies then you should coinsider consulting with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my personal opinion, make of it what you wish.

Sort:  

Congratulations @pedrolol! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @pedrolol! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Coin Marketplace

STEEM 0.20
TRX 0.14
JST 0.030
BTC 66683.89
ETH 3311.03
USDT 1.00
SBD 2.70