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Charting the course of XRP

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Underwhelming.  Some of the other alts popped overnight (LTC, VET, to name a few).  XRP looked like it wanted to break the triangle upward but then hit a wall at $0.282 and is continuing to struggle with that resistance as we speak.  I would classify this as another triangle fail, but at least we got some green that will hopefully continue into the Sunday night weekly close.

Appreciate all of the support from everyone speaking up.  I agree with what has been said above re: moderators but, if and until we get any decisive action from them, our best weapon is the Ignore feature.  

Will post the weekly chart after the close after 7 pm EST.

NEkSuwfv

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7 hours ago, Julian_Williams said:

Dear Moderators

Can you please put a stop to the constant, repetitive and malicious content from @XRP_to_20dollars  He is clearly on an agenda to ruin this thread with his personal vindictive attacks that he has been told again and again, by other readers, are not appreciated. These sorts of people masquerade as sceptics, but their empty comments are beyond scepticism, they are straight nastiness.

 

Can I ask for the ever whining Coulson to be removed as well while we’re at it? 

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Guest

Three green days in a row and the MACD on the daily chart has printed an inflection (circled in green), meaning that this could be the start of a bullish swing (or the end of our short term bearish trend since we got rejected at $0.34).  The chart is otherwise incredibly neutral and not suggesting much of anything.  It's easier to identify trends and predict reversals during trending markets; during accumulation periods like this, it's basically a coin flip as to which way it's going to go.  

We remain above the long term R/S line that we finally breached back on 2/5, so that remains positive.  We did come back down to test it but have held above thus far.

oM6ulYEi

On the weekly chart, we see that we had a relatively low volume red candle for this past week.  MACD is essentially unchanged and the RSI is closer to oversold than overbought.  No help predicting the future from that chart.

T7Y7DAF9

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For those who like to watch LTC as a potential predictor of the rest of the crypto market, it has been performing essentially exactly by the textbook after breaking out of its falling wedge.  If you were to make a price target purely based on this wedge pattern and where it broke out, it would be $110.  

Yd2CTfny

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Guest

VET has had a really hard time with the $0.008200 level.  Like, really hard.  It got smacked down again after briefly spiking above the week of 2/10 and now is grinding its way back up.  Just breached the $0.007000 level.  

Buuuuut... if you look at the weekly chart really hard and squint your eyes a bit... is that an inverse head and shoulders?

boXVxIXb

QxdarGr2

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Running TA on XRP is going to test your sanity and probably break your wallet. 

Holding XRP is truly a test of patience. If I recall correctly XRP was the last alt to pop off late 2017. If that happens again I hope I can hold on while watching every other coin moon. I think XRP was also one of the first coins to moon from a fraction of a  penny to 20 cents when Bitcoin broke through $1000 in early 2017. 

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2 hours ago, Gamblord said:

Running TA on XRP is going to test your sanity and probably break your wallet. 

Holding XRP is truly a test of patience. If I recall correctly XRP was the last alt to pop off late 2017. If that happens again I hope I can hold on while watching every other coin moon. I think XRP was also one of the first coins to moon from a fraction of a  penny to 20 cents when Bitcoin broke through $1000 in early 2017. 

Some people trade, some people hold.  No one is  an oracle on running TA, including those who don't like TA.  It's a highly subjective topic.

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Interesting to see what is happening on the stock market by the way. Gold is setting new highs due to investors seeking safe investments, however, crypto currencies do not seem to profit from this downturn on the markets. To me this confirms that especially bitcoin is not seen as a "store of value" by large/professional investors, which a lot of people argue is actually its core function.

Edited by Uloveme

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25 minutes ago, Uloveme said:

Interesting to see what is happening on the stock market by the way. Gold is setting new highs due to investors seeking safe investments, however, crypto currencies do not seem to profit from this downturn on the markets. To me this confirms that especially bitcoin is not seen as a "store of value" by large/professional investors, which a lot of people argue is actually its core function.

We haven't had another 2008 so it's hard to say exactly what the deal is yet. I have heard theories saying Bitcoin has eaten gold's lunch too. For investors I think Bitcoin being uncorrelated to traditional financial instraments is ringing true. The fact that Bitcoin isn't dropping now as stocks are plunging is good enough for investor to allocate 1%.

Edited by Gamblord

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4 hours ago, Uloveme said:

Gold is setting new highs due to investors seeking safe investments,

In the months after the banking crash, i saw a TV program that said people were buying gold that hadn't been mined yet. So the paperwork that they had at the time wasn't backed by the real stuff. So much for people buying gold, they were just buying IOYs.

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