๐๐๐ฃ๐๐๐ฅ โ๐๐ก๐ ๐ฃ๐ฅ: ๐๐๐๐๐๐ (๐๐๐) ๐๐๐๐๐๐๐ ๐ ๐๐๐๐๐๐๐? ๐
Technical analysis (1H):
โข Ripple dropped more than 30%. A lot of buy orders, spiking price during past few days.
โข Line labeled with the red star, may act as resistance, as it has prior.
โข Newest candles, though green, decreasing in size. Possible sign of resistance.
โข RSI portraying XRP as oversold. Sign of potential ceiling.
โข Not sure what's going on with MACD. It isn't in accordance with my prediction. It isn't too accurate with crypto anyways; I just left it there for an extra tool, potentially.
Fundamental analysis:
โข News released 2 hours ago, stating that Ripple has been added to BitOasis, a UAE crypto exchange. Could be big news, and could cause some long trades, breaking through the line labeled with the red star, acting as support.
โข A boat load of anti-Ripple crypto investors out there. Most don't like Ripple's centralized vision for cryptocurrency. Could be a possible reason for the potential ceiling. Lot of sellers.
Technical analysis (30M):
โข As I was typing this, the last green candle turned red on the 1H. I switched to the 30M, and saw this.
โข RSI showing oversold.
โข Another red candle forming, after this one, as we speak.
โข Very likely to be a ceiling.
Actions to take:
โข Wait for confirmation candle: a red candle closing below the low of the previous two green candles. If so, sell.
โข For conservative investors: wait until a red candle closes below the close of the previous 3 greens. If so, sell.
โข Watch out for news. Ripple is pretty newsworthy and so it may be swayed.
โ Nio Pomilia
All of my market reports, and predictions, are based on prior knowledge ofโand sufficient experience withโtechnical and fundamental analysis, critical thinking, and logic.
Positive, i like it. continue to spread the love for ripple
Thanks for your support, man!
Stay tuned for more market reports on XRP and others.
โ NP
Any other opinions on what's going on with XRP? Post them in the comments.
I'm not really a Ripple-fan, I feel XLM is going to take over this year. In my opinion it's better because it's decentralized!
I wrote a bunch of articles on Stellar, feel free to check them out on my blog.
Feel free to check out my blog @maxdigi, this way we can support each other.
Cheers
maxidigi
Many people are against XRP, because of its centralization. May be a cause for this ceiling.
I'll check out your content!
Thanks for reading.
โ NP
With so many units in circulation, pure market forces are bringing this coin back to reality. I don't think its going anywhere but down for a bit. The RSI and MACD are really telling us plenty --- over accumulated plain and simple.
Keep up the great work.
Craig
Very possible, man. I believe that its vision for centralized cryptocurrency (an oxymoron) may cause those, who see the bright future of crypto, to sell and stay out. We'll see what happens.
Thanks for reading!
โ NP
Nice post.I respect you very much because you contribute to steemit.I will do activities like you.I would like to extend the steemit
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