Why I think XRP/Ripple is not a good hold.
I get a lot of messages from people asking if they should sell their XRP.
XRP has been in a down trend for sometime and my initial impression after it's peak was to stay out. I also find that many ripple holders have the view that TA is irrelevant which may come from trying to apply stock-trading TA to crypto markets which will always result in it being irrelevant due to crypto being highly volatile and having a tendency to always oscillate and follow fib lines. It also easily gets hyper inflated from marketing and people piling into coins. Some of the factors to why I would not be holding XRP right now are that it is in a downtrend, it is mimicking a previous downtrend pattern, there are talks of lawsuits in the air and it has been on a very strong rise without a major correction for a long time resulting in a strong crash. I have superimposed a previous pattern on top of the current XRP pattern. There could be a small uptrend that fakes-out then begins to crash again. Good luck with your trading.
XRP has been in a down trend for sometime and my initial impression after it's peak was to stay out. I also find that many ripple holders have the view that TA is irrelevant which may come from trying to apply stock-trading TA to crypto markets which will always result in it being irrelevant due to crypto being highly volatile and having a tendency to always oscillate and follow fib lines. It also easily gets hyper inflated from marketing and people piling into coins. Some of the factors to why I would not be holding XRP right now are that it is in a downtrend, it is mimicking a previous downtrend pattern, there are talks of lawsuits in the air and it has been on a very strong rise without a major correction for a long time resulting in a strong crash. I have superimposed a previous pattern on top of the current XRP pattern. There could be a small uptrend that fakes-out then begins to crash again. Good luck with your trading.
Note
I have not been following much ripple news, I am just clarifying my thoughts on it and my general lack of confidence. If someone watches the ripple charts more than me then I'd recommend following their advice. I'll post an update if something changes/ when I remember.Note
Mimicked the first run, but will it be fake and crash?Note
haha, still following the pattern
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