DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.
Today’s technical is very short as I focus on the intraday analysis only.
We normally have a bearish market on weekends especially here in crypto trading and last night was Friday so that’s making a lot of sense. I was right.
Chart was screenshot at August 15, 2020 @ 8:20PM Philippine time.
Intraday open is 0.30055, high 0.30529, low is 0.29521 and current based on my screenshot is 0.29592. XRPUSD is down by 1.45% while rival BTCUSD and ETHUSD both higher.
In my previous closing report yesterday, I cited that XRPUSD price will consolidate around 0.28900 to 0.29500 levels and that what we are seeing on today.
You may read my yesterday’s report here:
Daily XRPUSD Technical Analysis – August 14, 2020
On the fundamental side, I read a lot of negative news reports and I expect more that XRPUSD will continue to fall in the following days.
As for me the big partner banks are not yet fully decided to use the cross-border token based on my research. Even if that’s the case, I will still hold my positions. I even bought another position now making 7 total.
My latest position is down 42 pips.
That’s negative profit. A loss. But my overall net profit is still solid at 44.50%.
With all the speculations I collected, I still believe that XRPUSD will make a comeback in the long run. Just a matter of time.
That’s all for today. Don’t forget to write comments below this article for any corrections, questions or additional info that I might missed.
Have a great day ahead! Stay tuned for more XRPUSD analysis! Thank you! :-)
HAPPY TRADING!
