Daily XRPUSD Technical Analysis – August 21, 2020

DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education/entertainment purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.

Welcome to another episode of my personalized XRPUSD technical analysis for August 21, 2020. I consider this as a personal diary of my own trading. I find trading now as part of my daily life. So I am aiming my best to improve every day. All my analysis will be based solely on the current time of screenshot with my trading view chart.

I am reminding my dear readers and followers that all content from this article and my previous technical analysis are all my own personal views and does not guarantee profits. I am doing all my best to express my own analysis using the indicators that I have chosen.

My 7 XRPUSD open long trade positions have already entered its 36th day of holding at the time of writing this article.

As of today, my July 16, 2020 entry at 0.19-cent level is now enjoying a total net profit of 42.84% compared with yesterday’s 43.76%. So I am down by 0.92% with my current portfolio which still I consider a strong position amidst the continued XRPUSD volatility uncertainties.

Chart was screenshot at 8:59PM Philippine time. Courtesy of Tradingview.com

Every trading day that passed, my trading chart’s looks keeps getting better and more beautiful. Agree? ;-) But the price of XRP against the USD is not looking good in the past 4 days as Bitcoin together with ETH continued to fall.

Today’s Intraday open is 0.29204, high 0.29592, low 0.28200 and current price based on my screenshot is at 0.28779. I am quite impressed that XRPUSD managed to hold its position at the 0.28 level despite the heavy sell-offs pressure. Meanwhile both rivals BTCUSD and ETHUSD are still facing uncertainties. BTCUSD down by 0.96% and ETHUSD netting a -2.28%. Today’s volume is sitting at 33.094 Million.

Meanwhile, Binance top 10 cryptocurrencies stats for today with BNB coins on its 2nd day in green along with Dotcoin and BCH are the other coins in green land.

Image Courtesy of Binance.com images

The infamous Golden Cross was formed last August 7-8, 2020 and this is the reason why I am still speculating XRPUSD to be bullish.

The bears won this day with the overbought-oversold score of 23-14 but still in bulls’ favor.

Now let’s go to the fundamental side. XRP has a very solid news for today despite the continued bearish trend. Please read my other article:

Congressman Tom Emmer Says “XRP Is Not a Security”

I will share these 2 pictures I got from my news research:

Whale alert managed to tracked down this huge XRP movement. Good job on that free whalie!

Next is this video screenshot which Binance has move a huge XRP amount to Ripple Labs.

I won’t comment about these huge movements impacting the XRPUSD price. :-)

As reference. You may read my yesterday’s report here:

Daily XRPUSD Technical Analysis – August 20, 2020

If you know how to read charts, you won’t lose the battle of trading. The charts are our friend. Listen to them. They are screaming loud and clear. We just need to listen.

Of course do fundamental news research too.

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!