XRP/USD - What the hell happened? 200% pump and 50% dump!
XRP pumped 200% in one week with the last three days registering most of the gains and today, we lost most of that.
This is called a pump and dump move. We went up using the stairs and dropped down using the elevator.
From a technical point, we touched the top resistance and were immediately rejected and now we're in exploration for support, the most likely candidate being $0.35 cents level. If that will not hold then the next level is $0.26.
Question is however, is there a trend for XRP or this was a one off? Hard to say, on longer timeframes like daily or weekly once could argue this is just the start. But after this sharp rejection today, I'd be surprised for us to pump higher towards $1 anytime soon.
Nevertheless, XRP can continue to surprise us again. Possible paths on the chart. I remain tentatively bullish if we hold $0.35.
Do not FOMO at the top and do not sell the bottom. Spot the trends and use them to your advantage.
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This is called a pump and dump move. We went up using the stairs and dropped down using the elevator.
From a technical point, we touched the top resistance and were immediately rejected and now we're in exploration for support, the most likely candidate being $0.35 cents level. If that will not hold then the next level is $0.26.
Question is however, is there a trend for XRP or this was a one off? Hard to say, on longer timeframes like daily or weekly once could argue this is just the start. But after this sharp rejection today, I'd be surprised for us to pump higher towards $1 anytime soon.
Nevertheless, XRP can continue to surprise us again. Possible paths on the chart. I remain tentatively bullish if we hold $0.35.
Do not FOMO at the top and do not sell the bottom. Spot the trends and use them to your advantage.
Like and follow if you liked this idea!
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