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Molten

Charting the course of XRP

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This morning the very short term XRP/USD looks like we keep edging up. Longer term it looks to me like we stay rangebound.

877261971_ScreenShot2019-11-20at8_05_58AM.thumb.png.118464494676cd4e445520ecdd8016fd.png

So.....were stuck in this range between .245 on the low side and .295 or so on the upside. A move above .295 would qualify as a breakout at this point in my book.

Ugly charts almost everywhere I look this morning. Of the alt coins I follow, only XTZ looks slightly bullish. VET, XRP. BAT all look sucky to me.

Edited by dr_ed

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1 hour ago, AlejoMoreno said:

At this point $0.12 is a lot more likely than $0.32.       I don't think so 

I'd be more surprised if it gets to $0.32 than if it goes to $0.12  I wouldn't 

Doesn't seem to do anything but bleed, bleed, and bleed.   Like a stuck pig. Meh, you would be only 5 cents or so down from last year if you had bought...where's your sense of adventure 

 

 

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Obviously, it hasn't been a good few weeks since SWELL.  We are still within the descending broadening wedge, which IS a bullish pattern.  The final bull trend line is shown here in blue.  I think we will see action when the wedge runs into this line.  If we break this line, I literally give up lol.  Until then, we are technically still in a rising trend.

i5uCRHkI

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42 minutes ago, Tinyaccount said:

While I’m sure that you are correct...   I’m technically really really disappointed in this pathetic market.  :) 

It's nothing to do with the market. It's all to do with the lack of demand for XRP and it's use case for cross border payments at this point in time.

Edited by KevClem

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2 hours ago, KevClem said:

Here are my fundamentals

image.thumb.png.26f6e7c2876fe33df250ce4530805b2f.png

I gotta admit. I got a good laugh out of that. I hope it doesn’t come true, but at first I thought that was a serious TA someone put thought into.

At this point, we can all get pissed at each other, but the reality is, xrp has been all over the board and declining slowly. Even tho you’re being incendiary to get a rise, this TA could come true, to everyone’s shagrin that is looking for it to go up. 
 

Two years ago, we would all laugh saying there’s no way this could happen. But reality is, it has happened. Continuous decline despite bank relationship, awesome news, MG announcement and all the like. No matter how much the users in this group agree, disagree, block, fight - xrp will do what it does. And at this point, it’s not doing much.

 

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39 minutes ago, CryptoBoiler said:

I gotta admit. I got a good laugh out of that. I hope it doesn’t come true, but at first I thought that was a serious TA someone put thought into.

At this point, we can all get pissed at each other, but the reality is, xrp has been all over the board and declining slowly. Even tho you’re being incendiary to get a rise, this TA could come true, to everyone’s shagrin that is looking for it to go up. 
 

Two years ago, we would all laugh saying there’s no way this could happen. But reality is, it has happened. Continuous decline despite bank relationship, awesome news, MG announcement and all the like. No matter how much the users in this group agree, disagree, block, fight - xrp will do what it does. And at this point, it’s not doing much.

 

I'm deadly serious about my chart.

My chart is as valid as any other chart in the 188 pages in this thread.

Edited by KevClem

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5 hours ago, CryptoBoiler said:

I gotta admit. I got a good laugh out of that. I hope it doesn’t come true, but at first I thought that was a serious TA someone put thought into.

At this point, we can all get pissed at each other, but the reality is, xrp has been all over the board and declining slowly. Even tho you’re being incendiary to get a rise, this TA could come true, to everyone’s shagrin that is looking for it to go up. 
 

Two years ago, we would all laugh saying there’s no way this could happen. But reality is, it has happened. Continuous decline despite bank relationship, awesome news, MG announcement and all the like. No matter how much the users in this group agree, disagree, block, fight - xrp will do what it does. And at this point, it’s not doing much.

 

I basically agree, in 2018 I never thought XRP would go down and stay this low this long, but it has happened.  Where I disagree with almost everyone is that there is no demand.  I think under the bonnet demand for XRP is growing, but that signal of growing demand has been swamped by long term holders selling up and moving out of XRP.   At some point the process will reverse, I fear it might not happen for a while yet and that XRP might go quite a lot lower than .24 to find its bottom. 

I think @Molten  has done a great job educating us about how to read charts.  Serious investors should know how to read the TA even during periods when it is not functioning well.

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20 minutes ago, Julian_Williams said:

I basically agree, in 2018 I never thought XRP would go down and stay this low this long, but it has happened.  Where I disagree with almost everyone is that there is no demand.  I think under the bonnet demand for XRP is growing, but that signal of growing demand has been swamped by long term holders selling up and moving out of XRP.   At some point the process will reverse, I fear it might not happen for a while yet and that XRP might go quite a lot lower than .24 to find its bottom. 

I think @Molten  has done a great job educating us about how to read charts.  Serious investors should know how to read the TA even during periods when it is not functioning well.

I think the simple fact that average daily trading volume is much higher since may 2019 proves the market is far from dead and there is much more money flowing trough it then in 2017.

Currently it just that sells outweigh buys because no one expects a big bull yet, keeping it all in balance. When the market reverses (and it allready did in sept this year it seems) means that when this thing goes bullish and selling stops it has much more volume to push it to new highs. After which the cycle will repeat again… and again till it becomes more sustainable long term as it matures.

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