For the LT I look at XRP as an OPEN ENDED CALL OPTION on the IoV. Stable company, good management team in place, let's see...
You'll never go broke taking a profit!
A weekly close below the 50 week EMA at $0.5925 would be a crushing blow for bulls and could put those very ugly numbers $0.2226-$0.39887 we spoke of previously back on the table. Should that happen, XRP is a SCREAMING buy and I would add new money and increase my holdings back to 100%.
At the moment, the risk reward just isn't there, so we need to see a break and hold at the $0.72-$0.80 area to return to a bullish stance in these markets.
My long term view HAS NOT CHANGED. I believe that both Ripple and XRP have a VERY BRIGHT FUTURE. Best of luck!
Its not just expected... it will hit the cloud line currently trending @ .22549
Then, quickly bounce back up.
I suspect it will be a "FALLING KNIFE SCENARIO" by Feb. 12th at the latest if not sooner.
If we break the area I defined above, I'll be more inclined to agree with you.
You should consider this a LONG TERM investment at this point. Crypto is still in it's early days and is HIGHLY speculative. Whatever you do, do not realize the loss by selling. In a year or 2 you'll likely be feeling much better.
You've learned a tough lesson that every trader has dealt with at some point in their career. Remember, buy when there is blood in the streets and sell when everyone wants to buy.
I was selling in the area you were buying in after entering between $0.18-$0.25. That said, I purchased a portion of my original position back yesterday at $0.68. So, take that for what it's worth.
Yes, more downside is likely in the short term, but we have to look at the fundamental story here. XRP is fundamentally stronger than ever. Take heart, we may not see $2.50 again for a few months/years, but eventually we will. Markets overshoot both ways.
Best of luck in your trading, don't let this get you down, stay in the games. The markets can be brutal at times, but they are also beautiful and can provide you with a great life if you stick with it!
lets see what will happen, again thank you very much for reply