At Coin Inquire, we offer free price signal of
Ripple (XRP) and other cryptocurrencies. Today July 06 we are beginning a new series of free signals for top cryptocurrencies including Ripple (XRP).
Early signals are showing that Ripple ( XRPBTC ) might be over with its retrace… Let’s take a look:
- Ripple ( XRPBTC ) hit a low on the 26-June and reached a peak by 1-July. On the retrace, a low was hit and maintained after the 3rd of July, this low was also higher than the one before, making this a higher low… Now we are seeing the bulls trying to move the price up.
- XRPBTC is now challenging EMA5 and EMA10. A break above these levels would turn its potential from bearish to bullish , and it looks like the day might end above EMA10 (0.00003495).
- We can notice increasing volume . This fact happening also on a weekend, which is a move to catch people off guard before a strong move.
- Finally we have bullish divergence on the MACD and RSI , both indicators, making this signal stronger…
Looking at all these signals, we can say that XRPBTC is showing signs that it wants to move up.
Even if these are the signals we are getting now, we prepare for all scenarios.
Look at the chart above and we’ve drawn multiple paths, we are open to the reality of these signals being invalidated and XRPBTC going lower.
If we were to open a trade based on the signals above, we either have a stop-loss, second entry or strategy to know how to act and what to do based on whatever happens, either up or down, not just prepare hoping that the price will go up.
Having a plan is always best, so study, prepare, get ready before you trade!
1- Do not invest in every ICO – most of them are a scam.
2- Crypto is a heavily manipulated commodity and the price can change at any moment.
3- The creation cost of a coin represents the “wholesale” price – It is always better to buy when the price is close to the creation cost.
4- Crypto has a natural cash flow that dictates the selling pressure. Like, 1800 bitcoins are mine each day so 1800 bitcoin must be bought at the current price (“means market needs new $18 millions of investment every day if the price is $10,000 to maintain the current price“).
5- Patience and timing are key to making a profit:
Buy, when the price is close to the creation cost.
Sell, when the price is way high off the creation cost.