Hi traders, This is a small update on Ripple and the current outlook for the next few days. As you can see Ripple is still trending sideways and it needs to breakout $0.22 for it to start its bullish trend. Let me know if you need any further clarification and thanks for you continuous support! - Abdulla
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Are you ready?
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Ripple currently trading sideways (within the trading range)
not sure how to embed an image in a post, but here's a thought (xrpeur, but should apply to xrpusd as well):
Seems to me this huge pennant is forming. Another bounce might take another month, and then it still remains to be seen what way it exits. (Just hoping it's not a continuation, because it was formed during a downward trend)
I'd like to think an upward breakout will come soon, since I have quite the amount of xrp (all bought at a higher price than it currently is), but I'm a bit skeptical.
@AAlFadhala, Mind if I ask what kind of trader are you? Day, Swing or Positonal? I am a student, and I want to make a decision.
Thank you for all your analysis.
MarraM
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Thanks for your analysis AA. You are a good man. Would it be unwise to dip my toe in the water now? My thought is that Ripple, as well as most of these stagnant Alts, are on the radars of so many people right now that +.22 may as well be +.25 by the time you're ordered is filled. Thoughts?
JoshuaVanier
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@MarraM, your risk/reward below a candle close, above the line indicated, isn't worth it IMHO. Minimizing risk is more important than maximizing reward.
JoshuaVanier
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@MarraM, Minimizing Risk, over maximizing reward, is something AAlFadhala touched on, in his last educational Trend Analysis post.
MarraM
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@JoshuaVanier, You are 100% correct. I need more discipline. I only bought 20% of my full position though. Thanks for replying.
BrunoDanteSampaio
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@JoshuaVanier, which post? Could you please post the url?