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Charting the course of XRP

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53 minutes ago, Quaed said:

I disagree. If your definition were to be used, any downfal would be classified as a bear market and any upside trend would automatically be classified as a bull market. 

which definition? sorry i do not understand:

price goes down: it is  market where bears prevail.

price goes up: it is a market where bulls prevail.

This is clear.

But the pattern of a descending wedge is a consolidation pattern with a well defined support line.

Such a pattern in general (let's highlight "in general") has a bullish outcome with high probability to retrace at least to the highst price of the wedge (in this case around 0,9$).

In such a pattern bears do not have to expect a high return if they continue to sell on the upper boundary line, because the movement has a progressively reducing range. The risk connected to new sell positions increases with time and the potential gain decreases.

The pattern shows that there is an expectation that something will happen triggering an uptrend. this does not mean it will really happen.

An expectation can be found in the possibility that xrp use will further increase.

Of course there must be no manipulation form a few well positioned market makers.

 

 

 

Edited by JJJ2
typing error

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41 minutes ago, Quaed said:

Is it? Plenty of time has passed for weak hands to leave the market. I think we are beyond the point of shaking the tree, people who stuck around the past 2 years are prepared to see their investment boom or bust.  If this is the start of a new bull market, one would assume it is not in the interest of the whales to scare others out of the market, they want new money to enter the market as well. Therefore the current downfall doesn't make much sense to me. But then again, crypto doesn't have a track record of being logical.

Well, the time before the rise to 0,34 people on this forum were considering jumping to other coins. And personally, what crushes hope better then going up, getting people happy and crash it back down again. It did exactly that short before the 2017 run, and it did not scare new money. People quickly forget it crashed down when it is going back up again.

And if it can go up on a sustainable way it will only take a couple of weeks of media coverage to get in new money. Especially when the regular stock markets and interest rates on savings are going down and down.

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38 minutes ago, Caracappa said:

Well, the time before the rise to 0,34 people on this forum were considering jumping to other coins. And personally, what crushes hope better then going up, getting people happy and crash it back down again. It did exactly that short before the 2017 run, and it did not scare new money. People quickly forget it crashed down when it is going back up again.

And if it can go up on a sustainable way it will only take a couple of weeks of media coverage to get in new money. Especially when the regular stock markets and interest rates on savings are going down and down.

I agree. However, I believe the next couple of weeks are going to be quite important. Is the uptrend only temporarily broken and will we see a higher low following a higher high or are we going to test the teens again. If the latter plays out, it will be a serious blow for XRP in my opinion.

Edited by Quaed

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lower highs , lower lows since early 2018 , just check the graphics 

0.8$ in end of 2018 , 0.5$ in mid 2019 , 0.35$ early 2020 , we'll get a new high in some months at 0.20-0.25$ after going down to 0.1$ 

Edited by Baka

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10 hours ago, manamana said:

why do you think it will?

because I've been in this market for 3 years , I was sure XRP would go under 0.2$ months ago and it did .

We re still going down , this fake pump won't help price at all so we re going back down little by little

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10 minutes ago, Baka said:

lower highs , lower lows since early 2018 , just check the graphics 

0.8$ in end of 2018 , 0.5$ in mid 2019 , 0.35$ early 2020 , we'll get a new high in some months at 0.20-0.25$ after going down to 0.1$ 

The lower XRP drops the closer it gets to the ODL support, and the ODL support is rising as ODL networks.  At some point the two will meet.  Unlike other crypto, XRP is establishing a floor below which the price cannot go.

That floor is very low today, maybe .01 or less, but if it doubles and doubles every 3 months that .01 will reach .10 within a year.

As a non trader I just use my spare cash to increase my XRP position. I believe at some point I will benefit from an explosion in price.

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51 minutes ago, Baka said:

lower highs , lower lows since early 2018 , just check the graphics 

0.8$ in end of 2018 , 0.5$ in mid 2019 , 0.35$ early 2020 , we'll get a new high in some months at 0.20-0.25$ after going down to 0.1$ 

This is incorrect. In october 2019 we reached local high of .325. We moved past .34 a few weeks ago actually making a higher high in the downtrend. 
 

If we are able to make a higher low as wel at .22 or at least .19 or so, it would indicate a momentum shift turning bullish. But if we make a lower low again below .17, yep I agree it’s pretty much doom&gloom. 

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4 hours ago, Quaed said:

Is it? Plenty of time has passed for weak hands to leave the market. I think we are beyond the point of shaking the tree, people who stuck around the past 2 years are prepared to see their investment boom or bust.  If this is the start of a new bull market, one would assume it is not in the interest of the whales to scare others out of the market, they want new money to enter the market as well. Therefore the current downfall doesn't make much sense to me. But then again, crypto doesn't have a track record of being logical.

I don't think that is necessarily the case.

I refer you back to this:

Especially the part that indicates it took 8 years to reclaim the ATH.

 

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The xrp litigation case moves forward. Price didn't seem to care about the outcome. More evidence news doesn't affect price anymore. Case will move forward and I see Ripple settling this as soon as they can.

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6 hours ago, xrp_is_love_xrp_is_life said:

I had a dream tonight that one year after bitcoin halving it was Worth 168 milion $ and xrp only $0.4 😂😂😂

It made it all the way up to $0.40??? What a great dream!!!

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11 minutes ago, Gamblord said:

The xrp litigation case moves forward. Price didn't seem to care about the outcome. More evidence news doesn't affect price anymore. Case will move forward and I see Ripple settling this as soon as they can.

Price didn't care about anything during the bearmarket. It actually did not care about the escrow news and the Coinbase rumour in 2017 either. It was just time to move up, like the rest of the market was doing. And Crypto sites/whales will just randomly pick recent news to 'validate' a reason for letting the price lose.

Any of the recent announcements of partnerships would have propelled XRP into the stratosphere in 2017, because it was time. Buying outweighed selling and price could not be suppressed anymore. It shows the market is small, immature and manipulated.

Go to Tradingview.com and scroll trough the news on the right side. Or any crypto site for that matter.
'Ripple partnership this, XRP used there'. While on the other side 'BTC expected to go 1000%, BTC going lower, well-known trader expects...' All to write about BTC is it's speculative price. Yet it probably will boom again, just like Dogecoin. Based on nothing.

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4 hours ago, Caracappa said:

Well, the time before the rise to 0,34 people on this forum were considering jumping to other coins. And personally, what crushes hope better then going up, getting people happy and crash it back down again. It did exactly that short before the 2017 run, and it did not scare new money. People quickly forget it crashed down when it is going back up again.

And if it can go up on a sustainable way it will only take a couple of weeks of media coverage to get in new money. Especially when the regular stock markets and interest rates on savings are going down and down.

You make a good point. I have to remind myself that many investors, especially young, have a short memory and will not even remember these drops once the bull engine starts. They'll be rushing to get their exchange deposits processed. I just tend to be a fairly negative person with respect to my investments, epecially digital assets, so that I never have my expectations crushed.

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1 hour ago, AlejoMoreno said:

You make a good point. I have to remind myself that many investors, especially young, have a short memory and will not even remember these drops once the bull engine starts. They'll be rushing to get their exchange deposits processed. I just tend to be a fairly negative person with respect to my investments, epecially digital assets, so that I never have my expectations crushed.

always sell when there is a pump , I've learned that .

It's profit taking , sold at 0.31$ , rebought at 0.27$ I could have waited more to rebought at 0.22$ or even lower if it goes lower.

If it goes under 0.2$ , I'll buy more. if it goes to 0.3$ again ? I'll sell more

I'm making $ , not that much , but not losing at least

Edited by Baka

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