This is just my own opinion on why i'm avoiding this XRP rise so no haters please. Is there a chance XRP could shoot up more, yeh of course, but i don't want anything to do with it. This is a post from someone who has been burnt by XRP from listening to the utter nonsense that was out there when i didn't know what i was doing. First off, ask yourself, what are the motives of the Telegram group pushing up the XRP price. For me it looks like they are after a quick buck & jumping onto the wallstreetbets bandwagon but i don't believe they have the same integrity. All i can say is, you don't want to be the last one holding XRP when that Telegram group cashes out. A little history for you about why i don't care about XRP anymore. XRP was the first crypto that i bought in 2018. I got caught up in the hype & didn't know what i was doing back then so bought at an all-time high. I was soon at a -67% loss & buying more because everyone said it'll eventually go back up to $589, it never did. After about a year and a half, a lot of research, a shit load of Financial Technical Analysis Studying, i finally knew what i needed to do. Rather then closing my XRP trades at a -67% loss, I transferred all my XRP off eToro and put it all on to Binance, i then exchanged all my XRP to VeChain (VET) when Vechain was at $0.009 and I never looked back. What you decide to do is up to you as its you money, I wish you all the best and if you can get a bit of profit from this XRP rise then good on you, but for those who don't cash out in time & those who get caught out again after this XRP Pump & Dump has finished, please know that there are other ways to recoup your losses rather then holding forever or waiting for the next XRP Pump and Dump.
A few TA notes. The RSI is indication that XRP is in the overbought range on the daily chart. Looking at the ADX DI SMA, the +DI (Green Line) has crossed back over the -DI (Red Line) indicating an uptrend, but the ADX (Yellow Line) is at 14 indicating its a very weak uptrend. If it was an uptrend of strength, that could be interesting, but its not. At the moment XRP has dropped out of its Equilibrium Zone of the Ichimoku Cloud, if your trading, a key thing to look out for will be if it closes this daily candle inside the Equilibrium Zone or above it inside the Bullish Zone or below it inside the Bearish Zone.
I hope this is helpful 🙏
A few TA notes. The RSI is indication that XRP is in the overbought range on the daily chart. Looking at the ADX DI SMA, the +DI (Green Line) has crossed back over the -DI (Red Line) indicating an uptrend, but the ADX (Yellow Line) is at 14 indicating its a very weak uptrend. If it was an uptrend of strength, that could be interesting, but its not. At the moment XRP has dropped out of its Equilibrium Zone of the Ichimoku Cloud, if your trading, a key thing to look out for will be if it closes this daily candle inside the Equilibrium Zone or above it inside the Bullish Zone or below it inside the Bearish Zone.
I hope this is helpful 🙏
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.