XRP: Daily – Which way is UP?
XRP – Which way is UP!
Technicals
-Bullish Trend entered January 28, 2019.
-From the January 28 low of $0.28524 to the date and time of this post high (March 13, 2019) of (High) $.33265, XRP has gained $0.04741 in value.
-Note the long red candle on Jan 10, 2019, and the lower wick denoted with a green right arrow put the price at the current POC Node.
-Note the candle on FEB 10 where price probed higher, but no significant gains were made.
-Since Feb 8, investors do not see value above $.32600. Note the wicks that attempted to violate that price level were struck down (denoted by the horizontal dashed line).
-Primary trendline has 3-data points (confirmed) on the lower extended wicks.
-The green overhead sold trendline is tracking a potential volatility squeeze and supported by 2-data points)
- XRP is trading right on the POC.
-Volume (not extraordinary)
cryptovolatility.net/index.php <--- Look for your fun in a crypto with some volatility!
Conclusion
XRP is a stable token/coin. This price stability is taking the fun out of trading cryptos and making it very difficult for swing traders to make any money! There is no tolerance for prices above #.32600.
.
Treading Ideas:
If you’re interested in going long, try to dollar-cost-average nearer the orange primary trendline and continue to buy at each $.02 price level lower, or any lower price than your entry where you are comfortable. If you can own XRP at an average cost of .30xxx, you may see a nice 100 percent return in a year or two; maybe a bit more. The problem is the waiting and lack of excitement we have all become accustomed too!
Short – No shorting ideas.
What’s Biff doing?
I am all full up with my allotted XRP and do not seek entry unless we violate the primary trendline. Set a buy order at $.29 in the event the current price levels are challenged and we take a quick fall. I see XRP as a long-term hold. There is always risk in every crypto, so before you throw all your money in XRP, please note that a $.03 move in price is 10-percent. That’s not exactly chump change!
Good Ripple News websites.
ripplecoinnews.com/xrp-adoption-binances-trust-wallet-announced-xrp-support
thexrpdaily.com/
cryptocurrencynews.com/crypto-news-eth-security-binance-xrp/
Best,
Biff
Don’t forget to hit that like and follow Biff for more charting fun and money-making opportunities!
Housekeeping:
I use green trendlines for overhead resistance price levels.
I use orange trendlines for support price levels and to show price distribution patterns.
I use an orange dotted trendline to indicate the Primary Trendline and a dashed orange trendline to denote the secondary trendline.
My charts have a volume bias.
Indicators:
Fibonacci retracement
Volume Profile
Volume
The data calculated Is contained in the chart area. If you expose the chart to more or less data, the Point-Of-Control may move to reflect the addition or subtraction of new data. Finding the right dataset and correlating the FIB retracements requires a lot of time!
Nomenclature:
POC – Point-Of-Control is the price level for the time period with the highest traded volume.
VP – Volume Profile displays trading activity over a specified time period at specified price levels.
HVN – High-Volume Nodes are peaks in volume at or around a price level.
Technicals
-Bullish Trend entered January 28, 2019.
-From the January 28 low of $0.28524 to the date and time of this post high (March 13, 2019) of (High) $.33265, XRP has gained $0.04741 in value.
-Note the long red candle on Jan 10, 2019, and the lower wick denoted with a green right arrow put the price at the current POC Node.
-Note the candle on FEB 10 where price probed higher, but no significant gains were made.
-Since Feb 8, investors do not see value above $.32600. Note the wicks that attempted to violate that price level were struck down (denoted by the horizontal dashed line).
-Primary trendline has 3-data points (confirmed) on the lower extended wicks.
-The green overhead sold trendline is tracking a potential volatility squeeze and supported by 2-data points)
- XRP is trading right on the POC.
-Volume (not extraordinary)
cryptovolatility.net/index.php <--- Look for your fun in a crypto with some volatility!
Conclusion
XRP is a stable token/coin. This price stability is taking the fun out of trading cryptos and making it very difficult for swing traders to make any money! There is no tolerance for prices above #.32600.
.
Treading Ideas:
If you’re interested in going long, try to dollar-cost-average nearer the orange primary trendline and continue to buy at each $.02 price level lower, or any lower price than your entry where you are comfortable. If you can own XRP at an average cost of .30xxx, you may see a nice 100 percent return in a year or two; maybe a bit more. The problem is the waiting and lack of excitement we have all become accustomed too!
Short – No shorting ideas.
What’s Biff doing?
I am all full up with my allotted XRP and do not seek entry unless we violate the primary trendline. Set a buy order at $.29 in the event the current price levels are challenged and we take a quick fall. I see XRP as a long-term hold. There is always risk in every crypto, so before you throw all your money in XRP, please note that a $.03 move in price is 10-percent. That’s not exactly chump change!
Good Ripple News websites.
ripplecoinnews.com/xrp-adoption-binances-trust-wallet-announced-xrp-support
thexrpdaily.com/
cryptocurrencynews.com/crypto-news-eth-security-binance-xrp/
Best,
Biff
Don’t forget to hit that like and follow Biff for more charting fun and money-making opportunities!
Housekeeping:
I use green trendlines for overhead resistance price levels.
I use orange trendlines for support price levels and to show price distribution patterns.
I use an orange dotted trendline to indicate the Primary Trendline and a dashed orange trendline to denote the secondary trendline.
My charts have a volume bias.
Indicators:
Fibonacci retracement
Volume Profile
Volume
The data calculated Is contained in the chart area. If you expose the chart to more or less data, the Point-Of-Control may move to reflect the addition or subtraction of new data. Finding the right dataset and correlating the FIB retracements requires a lot of time!
Nomenclature:
POC – Point-Of-Control is the price level for the time period with the highest traded volume.
VP – Volume Profile displays trading activity over a specified time period at specified price levels.
HVN – High-Volume Nodes are peaks in volume at or around a price level.
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