Right now XRP's beta against the market is .5744. The beta gives us its position relative to the market (0 being no correlation; 1 being exact correlation). With XRP's beta so low, we can tell that it is the currency currently leading the Cryptosphere through the bounce.
Whether this is new excitement or a hopeful beginning, we can see that this bull-run will last awhile as the standard deviation is .009822. Meaning that we can expect a fluctuation on the downside by around 1%-2%.
If you are not currently in the market I suggest waiting for a consolidation to around $0.81-$0.82 to set up a good long entry for this next bull-run. DO NOT FOMO IN. You will lose.
Your opportunity should come around about 3 hours after this chart is posted (currently 10:21 AM MST). As you can see by my chart, we are forming the "J-Hook" on the Bollinger-Band 4-hour. Which means that we are getting ready to consolidate for the next leg-up. The Parabolic SAR is also giving us an indication that it is getting ready to consolidate as the periods are getting over-stretched. I would wait until we see the periods of the P-SAR to go overhead on the chart to start buying in.
I recommend a stop-loss @ $0.72 and in case of a rapid bullish break, a stop-buy @ 0.90.
Ripple's XRP is going to have a very interesting Q2 of 2018.
Goodluck out there guys!
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Looks like XRP had an unexpected pump up. I didn't think this would happen today. It looks like we will hit $1.00 unexpectedly... Hopefully you guys set your stop buys!
Will update tomorrow after the price-action has settled.
stop buy ? Do you mean after passing 1$ we should buy ?
Joker1970
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@yakumak, no he gave the stop limit buy order advice before passing 0.90$; this means yiu missed that :((; may be you can give a 0.90$ buy order now and wait for the retrace...
NaviedKhvn
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@yakumak, Yeah @ErsozSozer is right. I had thought it was going down a bit after such a large jump and my indicators were telling me that I should get ready for it. I had said to set a stop loss at $0.72 and a stop order to buy if it touched $0.90 because that was supposed to be a low chance unexpected bull-run target. Sorry, mate.
cyberholz
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Never heard of the beta - can you @NaviedKhvn recommend any reading on it?