Jump to content
Sign in to follow this  

Ripple Effect - After around 24 hours

Recommended Posts

, Cryptocurrencies in general are going down. The movement downwards has been rather aggressive and quick. Bitcoin, Ether, Bitcoin Cash, Bitcoin Gold and Litecoin are all also going down. There is a current sell off at the moment, I would urge you to look at the charts to really appreciate this.


Even Cryptocurrencies like Stellar, IOTA, Cardano, etc. are all declining heavily. The current charts are not indicating any reason to go long at this moment in time (5:38 am) at the time of writing.


Some may argue that it is because of the announcement the Indian Government made recently, South Korea and China's recent statements or even the decision of certain banks to ban the purchase of Cryptocurrencies on credit cards as having an impact. I am not so sure. It may have contributed only slightly but this current 'bloodbath' in Cryptocurrencies may have happened regardless. Who knows.


For those who are currently in a short position then I would suggesting holding until the trend reverses and there is a clear signal / confirmation. Should anyone open a new short position? This is all dependant on your risk tolerance as if the trend does change then as many of us have witnessed it could shoot back up very quickly and aggressively on the way up. 

Share this post

Link to post

Ripple has been rather quiet when one compares the price action to Bitcoin Cash, Litecoin and in fact Bitcoin.

Ripple seems to be trading around the $30 market and it seems $40 is far too much for it to reach at the moment. 

Share this post

Link to post

Ripple is up over 7% at the time of writing this post. 

It has crossed its 20 and 50 DMA's on the 'daily'.


The question is whether Ripple is more likely to continue with this price action and trending action thus crossing its 100 and 200 DMA's?

Or is this going to reverse sharply and give away all its recent gains?

Share this post

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
    • Total Posts
    • Total Members
    Newest Member
    Joined 18/09/19 20:46
  • Posts

    • Wow. Just look at the volatility. The price action is erratic to say the least. This has happened before on quite a few occasions in the past.  In one hour from my initial post to this post the price action has reversed. It is all about waiting for a clear signal for which direction these indices are going to go in. 
    • So you have to admit this S&P chart is as bullish as you could get, traders have been waiting for the Fed who haven't disappointed, have refused to break lower during that wait and are just staring at that ATH just a short reach away. Barring a war there seems nothing to hold back the continued march onward and upward. Daily chart; 
    • I think we now have the potential and it is potential shorting opportunity on Dow Jones (Wall Street), S&P 500 (US 500) and Nasdaq (US Tech 100) as well as other indices. The FTSE 100 is not looking too good in advance of Brexit. The 'daily' chart is looking rather bearish. The price action is looking bearish. However the price has not breached any of the key moving average indicators as of yet for the US 500. Hence why I am using the word potential in terms of trading opportunity. Some of the ultra aggressive traders will already be short the S&P 500 and other similar indices but if they are wrong the price does not continue downwards then they will be out quickly.