• Ripple dropped more than 30%. A lot of buy orders, spiking price during past few days.
• Line labeled with the red star, may act as resistance, as it has prior.
• Newest candles, though green, decreasing in size. Possible sign of resistance.
• RSI portraying XRP as oversold. Sign of potential ceiling.
• Not sure what's going on with MACD. It isn't in accordance with my prediction. It isn't too accurate with crypto anyways; I just left it there for an extra tool, potentially.
• News released 2 hours ago, stating that Ripple has been added to BitOasis, a UAE crypto exchange. Could be big news, and could cause some long trades, breaking through the line labeled with the red star, acting as support.
• A boat load of anti-Ripple crypto investors out there. Most don't like Ripple's centralized vision for cryptocurrency. Could be a possible reason for the potential ceiling. Lot of sellers.
• As I was typing this, the last green candle turned red on the 1H. I switched to the 30M, and saw this.
• RSI showing oversold.
• Another red candle forming, after this one, as we speak.
• Very likely to be a ceiling.
• Wait for confirmation candle: a red candle closing below the low of the previous two green candles. If so, sell.
• For conservative investors: wait until a red candle closes below the close of the previous 3 greens. If so, sell.
• Watch out for news. Ripple is pretty newsworthy and so it may be swayed.
— Nio Pomilia
All of my market reports, and predictions, are based on prior knowledge of—and sufficient experience with—technical and fundamental analysis, critical thinking, and logic.
