بِسْمِ ٱللَّٰهِ ٱلرَّحْمَٰنِ ٱلرَّحِيمِ

ٱلسَّلَامُ عَلَيْكُمْ

Hy steemians hope you are having good days and welcome to another erudite contest of steemit crypto academy by @pelon53 and this homework is basically support penny cryptocurrency and i will explain you in a finest and easy way.

Basics of penny crypto currency advantages and disadvantages:

Penny crypto currency are very low price coins and can also said shitcoins and you don't know either his value will be increase in future or not. You do invest just on your strong fundamental and sentimental analysis. When you enter in coin market cap you can easily see many penny crypto currencies who's value is in cents than you do little investment and gain big profits easily in long term. Chart I will show that coins initially came and thunder do boom in market.

Advantages of penny cryptocurrencies:

1: You can make good profit by investing small amount of money and don't do greedy just book your profit once the coin hits the target and leave the market before you get liquidate.

2: You have to do 1 time effort and long term profits are in your hands because of volatility of crypto market as you can see now a days. Just do small investment get more and more profit for long term best example is doge coin and safemoon and one and only BITCOIN, because if we had towards past 5 to 7 years you can get bitcoins in cents satoashi and some applications are giving free by watching adds and same for doge coin there are many platform from you can get Free tokens from link1 link2

3: You can be millionaire or billionaire by setting your targets adequately using portfolio if you invested in 10 crypto currency not too much just 5$ each and if any of them gets hit you will be enjoy juicy trades without doing much efforts so this context basically lies on DO SMART WORK NOT HARD WORK.

Disadvantages of Penny Cryptocurrencies:

1: howbeit there is some drawbacks also exist one reason is our greediness I believe because we want more and more, when ever you get maximum or enough profit to compensate your loss and acquire your profit leave the market without fear because you don't know when you will get liquidate because this is on of the most highly volatile market ever.

2: Don't invest in every penny cryptocurrencies because you don't know what is it actually I by my self never do this because you have to do enough research and than put your money and set portfolio, so I took help from my mentors they guide me than I take entries other wise you will experience great losses from penny cryptocurrencies.

3: Now a days there are many shitcoins in market and scammers are all around so do investment with all your strong fundamental research otherwise scammers will not let you live in market.

Do a Ripple (XRP) analysis. Show screenshots. Would you invest right now? Explain.

I will do all analysis about this because market is in great trouble and shows a bearish season for alt and bitcoin also, this project seems in 7th rank in crypto currencies with the CS of 35,108,326,973 XRP volume of $21,132,342,660. We will discuss detailed about

Technical analysis for support and resistance.
Using indicators.
Fundamentals and sentimental analysis.

1 Technical analysis:

• We can see there is strong support at 0.972 and heavy resistance that he his hitting to it, although as you can look at the which is actually working as a resistance and it break afterwards you can see there is consolidation at price 1.2 1.7 and more other figures now XRP took a break on heavy support of 100EMA and I think XRP must give a bounce back.

• As per market situation XRP gonna break its resistance on fundamentals of market.
  

Using Indicators:

I basically uses dial indicator , MACD and RSI for better results

DIAL INDICATOR
By using dial indicators in trading set the time frame as far you setts on previous analysis this matters alot and there you can see NEUTRAL ,SELL, BUY, STRONG, SELL, STRONG and BUY. As you can see the indicator show sell and and checked before 2 hours ago it was strong sell so we can take entry this situation is to buy the coin so satisfied from this indicator .

MACD AND RSI:

This indicators also tends me to take trade because it will definitely give us something special but am just waiting for any of one fundamental news satisfied from this indicators.

Fundamentals Analysis:

AS per my and research there is a case in court ongoing and seems that case should be in ripple's favor if it bend towards ripple side there would be a good potential of pumping the coin maximum 300% 400%. If the case is in favor of ripple than coinbase will listed XRP than it will give 70% increment in this coin and has potential to increase almost 3 5 times by past experiences. Thus waiting for this lawsuit although always think for worst if it delisted than ripple might decrease or sits on the same position until strong fundaments arise to pump this coin

Is it possible to invest in XRP?

Yeah by using technical and fundamental analysis and past experience of this coin we can say this might give us good trades. Although I uses all the indicators and affirm with my research its a good coin to invest rather I get any news from fundamental side I will jump into the trade but waiting for some more collections of this coins.

According to fundamental analysis the case of ripple is also going through court decision would be in favor of ripple thus it might give us the juicy trade.

I might use the stop loss for ripple because of the ongoing decisions are seems to be in favor of ripple though, XRP is also in top 10 ranking coins seems the news might be in favor although capitalization is $42,197,028,883 and now the market seems in dump situation its the time for long term investment I will do 20$ investment.

Present in detail a possible investment of 5 penny crypto assets. Explain and present data confirming your choice.

I by my self made a chart of penny cryptocurrencies that provide and manage by my mentors and team members.

I had bought 5 crypto pennies these are possible ones because my mentors and I myself done great research on this and it seems to hit their target but not sure the total portfolio I made can be shown in above picture. I do check monthly not every stance lets wish which one will be in juicy profits.

I invested in LAIKA, CATECOIN, BONFIRE, HOKKAIDA INU, KISHU INU.The main thing is that you need to understand the concept of whitepaper and do enough research on that and the pennycurrencies you are investing should be listed on good exchanges like binance huobi etc one major research is be in the top 200 in terms of market value

LAIKA : This coin is secure by Dxlocker also the ownership renounced by its developer and one main thing to go with this coin laika is now listed on binance smart chain. If you want to purchase do invest through meta mask because of gas fees less than other exchange.

CATECOIN: this coin show remarkable work because the white paper extensions of this coins are extremely strong and it is strong content farming coin and the developers reserved 35% of supply. You can also catecash tool report to verify its worth more in future and I was late people make enough profit when the coin because this gem hit the target in just weeks.

HOKKAIDU INU:
According to the nature of crypto currencies wavy, hokkaida Inu is on strong chain network ETH and seems to be on profit in upcoming months , the expected profit fromm this coin is +326.3% by. The hokkaidu inu review can be extract good worth about this coin.

KISHI INU:
Although there is enough information about this coin but this coin is listedd on ETH mainchain network and giving good performance as well so might it can give profitable results in future. kishu coin is increaing 200% for short term you can make good profit in 6 months but nothing could be said for long term so do your analysis more about this coin what the team is saying about the project mainly the IT team.

BONFIRE:
This project seems quite interesting and listed in binance smart chain although I also saw when the project is launched i saw that 2500 holders in less than 24 hour and seems quite great growing and the twitter telegram and reddit groups are on full mood people showing great attraction towards this coin the rate growing of this project is quite amazing and it contains good and strong fundamentals regarding white paper but there is some lagging seems my team member told me about the energy that it burns and other more technical things make this project more risky but if it hits the juicy trades gonna be extracted.

Show an investment (starting at $ 5) that you have made this week in Penny cryptocurrencies. List the steps you took.

As I will you show my investment in trust wallet i did by buying safemoon as this coin will definitely give good profit

Hope to see this coin in profit my invest was of 4 $ i am in profit but need more because this is for long term coin and no tension just 4$ and I buy this coin from meta mask pancakeswap.

as our professor told us to show trade in recent weekss for the sake of our professor I will buy SHIB/USDT pair for 10 $

• buy zone of 10$ 1059322 shib coins

• sell target sett by using sell limit 1061571 for 106.1571$ profit just spending 10$ hope for good

It seems there so fluctuation in market trade after few time I checked my trade has been done successfully.

conclusion

As this cycle of penny cryptocurrencies there is highly risk associated with it, as you know the rule higher the risk higher the profit. Do invest your savings and the money that is we dont need saving basically but not too much little bit investment give you more profit in this coins. Always sett your portfolio while taking trades and do checked them on month end not every time this makes you confuse, As if your trade will be hit once you will enjoy juicy and crispy life. I never got any of them but I invested may be my target hit In sha Allah hope for the best prepare for the worst.

Cc:
@steemcurator02
@steemitblog
@pelon53