🌊 XRP FLOWS WITH THE WAVES 🌊
🌊 Today's my first day off in what feels like a couple months so happy to be back, and sorry work just had be worn out and unable to post. I'm gonna see if I can get a laptop soon so that I'll be be able to post more idea's more frequent even from work. Anyway sorry for the delay, we're back today and thanks for tuning in ladies and gentlemen.
🌊 XRP's still been flowing with the waves going through it's sideways trading between what seems to be our fight right now. XRP's failed to break that 0.534 or form anything above. On top of that we've continued to lose that 200 EMA and while it's good that we do get these rather strong pull ups which help us regain the 200 EMA the support just isn't there much.
🌊 Market's still in a state of fear/caution with Bitcoin failing to break that $26,200 mark getting essentially smacked down every time. If we can't break that level soon we may head down sooner than up but something of interest to note is that according to Whale Alert yesterday a total of 426,118,503 XRP was transferred off the Bitvavo exchange to an unknown wallet.
🌊 A similar amount was transferred on Friday thus it's likely one institution or individual that's behind it. It's weird though, when checking the memo's on some of the transactions they mention DEX's and the one mentions an XRP faucet which is likely some form of scam but it's odd to be honest. That aside there's a whale that's either holding on to their XRP and could have transferred their XRP to wallet's in order to simply sit there and HODL, that or the opposite but regardless of everything it's interesting. For a whale to be in the game with basically 1 Billion XRP is rather odd. If you're trying to day trade XRP isn't the best crypto but if you're looking to hold and sit then it would be viable, thus my idea is at least that they are but I'll try to keep an eye on the wallets. Either way the big money is in XRP and that has to mean something.
https://u.today/almost-billion-xrp-withdrawn-from-crypto-exchange-in-past-two-days-price-drops-234
🌊 TA wise we've lost our 200 EMA on the 30 minute and should look to regain that else we'll likely fall back down to that retest of 514 and if it does push up expect 0.52627 to keep being a resistance until we break it again which by then if we did would be a third confirmation and help form a bullish scenario though a lot of this ultimately does lie in Bitcoin.
🌊 Even with XRP being good as it is we know the market is still heavily focused on Bitcoin and while the correlation between XRP and BTC isn't necessarily there as much any more we can't deny that Bitcoin still is having an impact and will likely until things turn positive and we can get some good developments/ updates. Till then we'll likely keep trading sideways until one side gets tired or we get a breakthrough to the upside or downside. I know it's not much help but the market's just in a gray state right now. News isn't exactly positive and we've got the Fed comments, china's situation going on, and other macro economic factors weighing down on everything generally.
🌊 Sorry if this idea's a bit hazy, just exhausted and stressed with a couple things. That being said I still wanted to get an idea out for you guys, sorry again it's been a bit, just a bit tough juggling life is all. Thank you nonetheless for tuning in and feel free to leave any likes or follows, never hurts and keep tuned as always!
~ Rock '
🌊 XRP's still been flowing with the waves going through it's sideways trading between what seems to be our fight right now. XRP's failed to break that 0.534 or form anything above. On top of that we've continued to lose that 200 EMA and while it's good that we do get these rather strong pull ups which help us regain the 200 EMA the support just isn't there much.
🌊 Market's still in a state of fear/caution with Bitcoin failing to break that $26,200 mark getting essentially smacked down every time. If we can't break that level soon we may head down sooner than up but something of interest to note is that according to Whale Alert yesterday a total of 426,118,503 XRP was transferred off the Bitvavo exchange to an unknown wallet.
🌊 A similar amount was transferred on Friday thus it's likely one institution or individual that's behind it. It's weird though, when checking the memo's on some of the transactions they mention DEX's and the one mentions an XRP faucet which is likely some form of scam but it's odd to be honest. That aside there's a whale that's either holding on to their XRP and could have transferred their XRP to wallet's in order to simply sit there and HODL, that or the opposite but regardless of everything it's interesting. For a whale to be in the game with basically 1 Billion XRP is rather odd. If you're trying to day trade XRP isn't the best crypto but if you're looking to hold and sit then it would be viable, thus my idea is at least that they are but I'll try to keep an eye on the wallets. Either way the big money is in XRP and that has to mean something.
https://u.today/almost-billion-xrp-withdrawn-from-crypto-exchange-in-past-two-days-price-drops-234
🌊 TA wise we've lost our 200 EMA on the 30 minute and should look to regain that else we'll likely fall back down to that retest of 514 and if it does push up expect 0.52627 to keep being a resistance until we break it again which by then if we did would be a third confirmation and help form a bullish scenario though a lot of this ultimately does lie in Bitcoin.
🌊 Even with XRP being good as it is we know the market is still heavily focused on Bitcoin and while the correlation between XRP and BTC isn't necessarily there as much any more we can't deny that Bitcoin still is having an impact and will likely until things turn positive and we can get some good developments/ updates. Till then we'll likely keep trading sideways until one side gets tired or we get a breakthrough to the upside or downside. I know it's not much help but the market's just in a gray state right now. News isn't exactly positive and we've got the Fed comments, china's situation going on, and other macro economic factors weighing down on everything generally.
🌊 Sorry if this idea's a bit hazy, just exhausted and stressed with a couple things. That being said I still wanted to get an idea out for you guys, sorry again it's been a bit, just a bit tough juggling life is all. Thank you nonetheless for tuning in and feel free to leave any likes or follows, never hurts and keep tuned as always!
~ Rock '
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