XRP Got checked out of the Library
Updated
OK crew, if you've been following my previous XRP "Stick a fork in it" idea, we made some pretty solid moves that really focused on ;
A. Scalps and light profit taking
B. Wealth preservation and keeping the portfolio in steady growth
C. General price directions on the daily, which we nailed gloriously
So moving to the new idea here (bonus if you got the library reference)
1. SEC vs. LBRY - Bad news, Google it but long short is that (at the very least) it has an impact on the crypto market at large and especially in the minds of XRP fam.
2. Check out the Core Scientific meltdown and it's effect on BTC hashrate. I've been warning everybody.
3. Clearly somebody knew something which led to the pump starting on the 16th of September. These guys always know and play the inside but I'm sure the SEC is totally going to go after them, lol. After 4 solid days of red candle action, we crescendoed beautifully with a net beatdown drop of just under 35%. Pretty sweet and all in hours of trading.
4. Blood moons - The guys that move markets are total occultists. Look at the way Doge moved running into the culmination of Halloween. Last night's blood moon eclipse and the resulting sell-off is just their way of letting us know who they are and what they're into.
5. On the purely technical side, we're well below our key MA's and with the John Wick candle staring us in the face, that wick is sure to engulf at some point which means lower level buying ops and shorts for those willing to risk handling XRP the wrong way. She can be a cruel mistress and you don't want to pi$$ her off.
6. Look at previous potential Golden Crossings and see how many reversed and never happened on the EMA's for XRP.
7. The Harmonic totally paid out on the short side but we got pretty good results with longing back in at the bottom of the longer term Fib channel / uptrend. Keep an eye on the down fork still in play although I'm still a fan of the engulfment theory.
I probably missed a bunch of other stuff but this should do it. We're basically looking to add more on lower buy levels while minimizing and downside to the portfolio here.
Good luck my friends!
* * * Not investment advice * * *
A. Scalps and light profit taking
B. Wealth preservation and keeping the portfolio in steady growth
C. General price directions on the daily, which we nailed gloriously
So moving to the new idea here (bonus if you got the library reference)
1. SEC vs. LBRY - Bad news, Google it but long short is that (at the very least) it has an impact on the crypto market at large and especially in the minds of XRP fam.
2. Check out the Core Scientific meltdown and it's effect on BTC hashrate. I've been warning everybody.
3. Clearly somebody knew something which led to the pump starting on the 16th of September. These guys always know and play the inside but I'm sure the SEC is totally going to go after them, lol. After 4 solid days of red candle action, we crescendoed beautifully with a net beatdown drop of just under 35%. Pretty sweet and all in hours of trading.
4. Blood moons - The guys that move markets are total occultists. Look at the way Doge moved running into the culmination of Halloween. Last night's blood moon eclipse and the resulting sell-off is just their way of letting us know who they are and what they're into.
5. On the purely technical side, we're well below our key MA's and with the John Wick candle staring us in the face, that wick is sure to engulf at some point which means lower level buying ops and shorts for those willing to risk handling XRP the wrong way. She can be a cruel mistress and you don't want to pi$$ her off.
6. Look at previous potential Golden Crossings and see how many reversed and never happened on the EMA's for XRP.
7. The Harmonic totally paid out on the short side but we got pretty good results with longing back in at the bottom of the longer term Fib channel / uptrend. Keep an eye on the down fork still in play although I'm still a fan of the engulfment theory.
I probably missed a bunch of other stuff but this should do it. We're basically looking to add more on lower buy levels while minimizing and downside to the portfolio here.
Good luck my friends!
* * * Not investment advice * * *
Trade active
How gnarley is THIS?! OK so quick update :1. The wick has engulfed quickly, beware, we could break down and out of the lower Fib channel and go straight to "H" "E" Double Hockeystick.
2. The broader market is in SHAMbles so no surprises here. The FTX problems are really making Ripples ;)
3. We're balls deep in this now, all barrels have been unloaded so one strategy to preserve the portfolio and minimize losses would be to open a % of the wad as a short position. 30% would not be unreasonable but again, not investment advice.
STAY FROSTY!!! and stay up all night if you have to, unless you've got bots running or automated grids on one the major exchanges
Trade active
So THAT was gnarley!!! And kinda fun, if you were actively weaving and bobbing like this guy ;) . . So I'm gonna drop a couple of scenarios here :1. We either go straight to "H" "E" Double Hockeystick and this bounce fails -OR- or we have a bit of a Harmonic action before nosediving. I still think XRP could go to 0.10, or at least sub 0.20.
Trade active
TP1 . . Check! Let's keep it going eh? Should get some kind of mad short squeeze before heading back to the garage days :) Trade active
Let's look for a 2-3 line strike on decaying volume and then pump from 0.33?-ish into some kind of harmonic. They typically run some kind of short squeeze in these ranges prior to dumping but not always. The lower targets are around 0.27 and 0.23 with the latter being one of their favorite numbers, just ask Jeffrey Lebowski ;) Trade active
OK crew, so we're actually below our latest cost basis and feeling only minor pain with a fairly large stash that we will hold until the end of time if necessary BUT given the insanity with exchanges inflating their reserve holdings reporting, coins being sent off, CEO's fleeing countries and Bitty being well enough below miner profitability, anything can happen from here. If we break the most recent local bottom, be ready for the 0.20's again. Trade active
Some possibilities here. Might look to TP some around 0.40 or slightly below, Looking like a possible (not quite Dragonfly) Doji reversal here on the daily. Check out SPX for some confirmation. GL! Trade active
so we just completed a 3-line-strike into pump and I've adjusted my trajectories a bit as we cinch into a bear pennant. The way cryptos been trading we could get a scam wick / short squeeze before next dump. Trade active
Took about 1/2 the trade stash in profit here, may re-enter at the bottom of the bear pennant and add a tight S/L. See how it goes a XRP may have some legs to push through a short squeeze. Trade closed: target reached
Upper target met (our's was a little higher higher actually). We could still see some push to the 200 EMA which might be a great short DCA entry. Will be moving XRP to new idea so keep your eyes peeled :) 
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