Candle has fallen below the upward trend-line, and now a descending trend-line has started to form. Descending trend-line is weak but has potential to grow stronger. The support looks like its around $2.62, and if it falls below that it looks like the second support is around $2.48. Let me know what you guys think.
***NOTE THE SECOND SUPPORT IS AROUND $2.48 NOT $2.32!!
@maverickgood1, Be very careful could easily dip down from there I pulled out of XRP yesterday and moved my money into TRX.
maverickgood1
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@Proncs, short term it’s definitely down. Long term there still is no change. I think it’s a buy in the $1.20-1.50 price range if it gets down there. Most traders have sold out by now and it’s Algos battling it out and moving it around on the bitstamp exchange.
Proncs
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@maverickgood1, Yeah I was a long hold but finally sold after it broke through the support, would say your buy in price is pretty much perfect, if it drops that low ill probably buy back in. Here is an article that you might be interested in, came out recently, not sure what i really make of it
@Proncs, doesn’t really affect anything. If they win, there’s more overhang. If not, nothing has changed. My guess is as more banks convert to ripples network, eventually some of them will stake out positions in xrp. It’s even possible one or more banks will take over ripple labs in a buyout as Skype was bought out multiple times for crazy money. Not any time soon but as the years go by. Banks are dumb and they are slow. But ripple has traction with them and that will carry on in the future.