Just longed XRP 10x

A-am i g-gonna make it?
seriously, imo it should bounce...what do you think?

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> 100 billion total supply
Not going to make it.

inb4 it dumps 5% and btfos OP

>TA on BTC pairings

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

bwah none of that shit matters.....crypto is garbage and no one needs it....also there is no souch thing as fundamentals in this market imo (unless you have insider info)....so the fact that xrp is an absolute shitcoin shouldnt really matter in the short-mid term...

Against BTC it's the most oversold it or probably any asset in history has ever been.

10x means 10% of the position is my collateral....in order for me to get liquidated it needs to fall (almost) 10%

Good luck catching this falling knife. I'm short the last few days after trying to long a few weeks ago. I don't have any idea where the bottom is, but this many red daily candles in a row does not provide a lot of hope for a reversal.

This is some pretty sketchy TA, hope you have a tight stoploss. What's your liquidation price, I might try to close my short there.

XRP is also quite oversold (technical analysis), I 'm looking at it with interest.

Oversold by what metric? It's in an obvious downtrend. Oversold doesn't mean a reversal is imminent. it can be 'oversold' for months.

bruh, if you take a look at the price history of XRP you'll notice there is almost no accumulation period. only bleed bleed bleed, then explosive growth

also look on the 1min shart how perfectly it bounced of off those 2 lines....imo its a safe play Jow Forums, you can have a tight stop on this shit....do wahatever the fuck you want with it, but i think i might be onto something (after a long period of shit trades)
tonight after i go to sleep im gonna be praying to kek to see it pumped tomorrow while creating a bullish wedge so i can double down on my position...

sorry....forgot chart...

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I agree, what indicates that there is explosive growth around the corner? Looks like the bleeding is accelerating to me. Trying to catch the bottom is such a high risk endeavor, especially when leveraged 10x.

>look at minute charts

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i just zoomed in to confirm it bounced from the line i have drawn like 2 months ago retard....also screencaping this so i can laugh at you tomorrow

you are right but its a small position....what i care about is that if this was the bottom and it bounces, if i add to my long after the retrace after the bounce my entry is still gonna be bellow my stoploss which gives me a nice risk free trade.....if i get stopped out now its not a big deal

>Oversold by what metric?
Bolinger bands and LazyBear WaveTrend Oscillator on TradingView (daily chart XRP/BTC pair)
>Oversold doesn't mean a reversal is imminent. it can be 'oversold' for months
Yeah true, I don't see much sign of reversal now but I'm looking as there's some potential here.

also look how it really doesnt give a shit about btc having a (probably) fake brakeout.....once xrp goes crazy it doesnt give a fuck about what btc does (just look how it behaved while we were dumping from 6k to 3k)

I'm all in on XRP. Its been bleeding VS BTC for awhile but I think the fundamentals are there for it to moon. I initially chose XRP because it dipped to $0.295 a few weeks ago and I knew it was going to bounce back. Now I'm longing because I think it's oversold and undervalued. It could be oversold forever but I have confidence that it won't be.

My bollinger bands show it tagging the bottom of a 50 period/3.2 stdev band about a week ago (daily candles). Generally not a good sign in a downtrend. If you're using default bollinger bands to determine oversold, you're gonna have a bad time.

Can you translate this for me? Bad sign in downtrend as in its going to become a worse downtrend or bad sign as in it is an end to the down trend? Im still learning.

Bad sign as in it's just going to keep dumping and any little pump is just a new chance to add to your short. if you're in a downtrend and you tag the bottom of a bollinger band it's a sign it's going to continue trending after a little sideways action. But nothing is 100%. Bollinger bands are awesome, I think everyone just uses them on default settings and reads them wrong.

Thanks, I appreciate your insight

would you mind explaining which settings you do use? only recently began using BB with my ta and don't have much experience with em

bump....am also interested

I like to use a couple bollinger bands to help identify trend. Typically a 200 period (1 to 1.5 stdev) shows longterm distribution of price and then I'll load a shorter period on top of it with the same stdev, and typically 20 or 50 period. When smaller band is outside the longer band, price is trending and when price starts moving back towards the longer period band, I'll monitor the pivot and use an oscillator like CCI to see if trend is likely to continue.

you better close this long on 35 cents before it plummets down to 32 cents where it will stay until BTC reaches a new ATH and they dump everything