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borntohypetothemoon

Ripple price analysis

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Ripple (XRP) has been trading close to the moving averages for the past few days. This period of consolidation is unlikely to continue for long. We expect a decisive breakout or a breakdown within the next few days.

A breakout of $0.33108 will propel the XRP/USD pair to the resistance line of the descending channel. If the bulls succeed in pushing the price above the channel, we expect the pair to pick up momentum and start a new uptrend.

On the other hand, if the digital currency plunges below the uptrend line of the ascending triangle, it can drop to the next support at $0.27795. Below this level, a drop to $0.24508 is possible. Traders can protect their long positions with the stop loss just below $0.27795.

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Technical analysis is BS. Think about it. You really can't go wrong with the above analysis. In the best case TA is self-fulfilling. It only works because traders believe it works and therefore act accordingly.

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I have a hard time believing in TA. If the sec gives us the green light its going to go up no matter what formations are building, and if Trump tweets that XRP sucks its going to tank. 

In the meantime i'll be doing what i have been doing for 1.5 years, wait patiently and see. 

 

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