CryptoNoName

$XRP :: Third Best Buy Opportunity Since July?

KRAKEN:XRPUSD   瑞波币/美元
$XRP looks to be setup quite nicely for another run. The daily RSI has hit rock bottom for just the third time since July indicating that it's way oversold. In each of the previous two occasions, we've seen $XRP bounce from $0.1486 to reach to $0.3029 and $0.2950 respectively. Now that we're sitting at what seems to be a solid base ($0.200 -> $0.05 higher than where the previous two runs began), we might be able to push through our recent high of $0.3029. In addition, there's been a lot of positive news (FA) surrounding $XRP (in my opinion, the largest being a push for further xRapid adoption in Q4) since the SWELL debacle.

A potential plan...
Buy: $0.199
Safer Buy: Breaking recent trendline (see screenshot below).
Target 1: $0.240 (21% profit, liquidate 20% of stack - buying more if we see a pullback with positive signs for continued growth)
Target 2: $0.267 (34% profit, liquidate 25% of stack, potentially adding to stack - see above)
Target 3: $0.299 (50% profit, liquidate 30% of stack, potentially adding to stack - see above)
Target 4: #HODL, long-term investment. (leaving at least 25% for additional fib/resistance breaks, if we end up breaking recent high as stated above)
Stop: $0.193 initially, with trailing stop following along the newly formed trendline to preserve any profits we might have built up.

If we do break south through our initial stop, we'll look for reentries off of a bounce. There's a fib support around $0.1808, recent support around $0.1674 and the ultimate bottom around $0.1486.

Not trade advice. #DYOR

Zoomed in for entries:
交易结束:到达止损: Never found safe entry, closing.
Since Swell had no significant impact, no new institutions signed, or anything breakthrough happen, I wouldn't suggest anyone to get into XRP because it looks like its going to find stability somewhere lower than $.15, and take a few months to reach $.20's again. For .00X plays, its not worth people to invest, specially when it's a larger holders game at this point. A couple holders of over 100,000 are dictating the price. I'd say stay away from Ripple and find something else.
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