RaiBlocks (RXB) Potential trade opportunity.

RaiBlocks is currently listing on https://www.kucoin.com/#/. Below is it's price chart on Kucoin.

Doesn't look anything special, does it?

My reasoning for buying XRB;

XRB is on sale right now after it's run up over the past 1-1.5 months, losing around 60% of its market cap from $4.9B to $1.9B. That does not mean that it could not lose 80% or 90% of its market cap from previous highs. XRB has a good line of support at around 1.2 million satoshis. So setting a stop limit sell order around 1 million satoshis could be a smart idea.

I will be watching to see if XRB breaks out of the descending triangle formation (a bearish pattern) and finds support on the 1.2 million satoshi level. Binance (One of the biggest exchanges, in case you live under a rock) recently had a vote for new coins to be listed and XRB won. Binance normally releases new listings onto the exchange on a Monday or a Tuesday the same month as the coin listing vote. Although the NDA doesn't allow public discussion of new coin listing dates, we can make an educated guess that XRB will be listed on the 23rd, 29th or the 30th.

This is a risky trade for two reasons:
We don't know when the coin will be listed on Binance.
Assuming the coin gets listed on Binance the price could pump or dump depending on whether more people want to cash out or buy in.

This is my first post on the site, hope its a good one :)

EDIT.

Well done to whom ever made the trade :)