Let’s start with the scorecard: yesterday, I said ETH would stay bearish unless it reclaimed 2,300, and not to chase shorts. Today ETH is at 2,254—it didn’t even come close to 2,300, so I’ll call that a pass.
Now look at $XRP : bullish news piled sky-high, but the price is flat on its back. The banking license was approved on October 26, and the ETF has seen net inflows for seven straight months, yet XRP still fell 16% in October. It’s now at 1.25, sandwiched between 1.20 and 1.30.
Here’s what the chart is saying in plain English: the death cross hit at 1.289 on October 29. EMA12 at 1.25 is still below EMA50 at 1.27, and the downtrend line has been pressing the price down from 1.40. There’s a double top around 1.35, while the wick on October 30 plunged to 1.20 before bouncing back. MACD is still crawling below the zero line, and the red histogram bars have only just appeared. The bears are catching their breath—that’s all. It’s way too early to call a reversal.
My take in one sentence: if it can’t reclaim 1.30, then 1.20 is the line in the sand; if that breaks, look to 1.10. This is just my personal opinion, not financial advice.
#USMidtermElections #XRP
Will $XRP reclaim 1.30 tonight, or go for 1.20 first? Pick a side in the comments.
Now look at $XRP : bullish news piled sky-high, but the price is flat on its back. The banking license was approved on October 26, and the ETF has seen net inflows for seven straight months, yet XRP still fell 16% in October. It’s now at 1.25, sandwiched between 1.20 and 1.30.
Here’s what the chart is saying in plain English: the death cross hit at 1.289 on October 29. EMA12 at 1.25 is still below EMA50 at 1.27, and the downtrend line has been pressing the price down from 1.40. There’s a double top around 1.35, while the wick on October 30 plunged to 1.20 before bouncing back. MACD is still crawling below the zero line, and the red histogram bars have only just appeared. The bears are catching their breath—that’s all. It’s way too early to call a reversal.
My take in one sentence: if it can’t reclaim 1.30, then 1.20 is the line in the sand; if that breaks, look to 1.10. This is just my personal opinion, not financial advice.
#USMidtermElections #XRP
Will $XRP reclaim 1.30 tonight, or go for 1.20 first? Pick a side in the comments.
