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Daily XRPUSD Technical Analysis – August 25, 2020

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Avatar for rafaelken1989
Written by   46
1 year ago

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.

I have already entered my 40th day of holding at the time of writing this article. I bought 1 yesterday and guess what, I bought another 1 today! That gives me a total of 9 open long trades since July 16, 2020 to August 25, 2020. Out of 9 positions, 3 are in reds! The first one is losing -113.00 pips, the second one -59 and the last but the least is -52. Overall net strength of my XRP portfolio is 38.34%. I landed in the 30%+ level again. :-(

Chart was screenshot at 8:42PM Philippine time. Courtesy of Tradingview.com

August 25, 2020 XRPUSD Key Stats:

  • Intraday Open – 0.28846

  • Intraday High – 0.28972

  • Intraday Low – 0.28129

  • Intraday Current (based on my screenshot) – 0.28205

  • Today’s trading volume is 22.794 Million.

  • 50 and 200 Day moving averages are higher than yesterday’s

  • The 0.29 cents level is once again a resistance

  • Bears regained control after yesterday’s bullish run

  • I bought my 9th long position

The King coins are in danger again! BTCUSD is down 2.30% while the ETHUSD is losing 4.42% of its intraday’s highest.

The Binance top 10 cryptocurrencies for today are all in crimson! BLEEDING heavily. With LINK and ADA the biggest losers. :-(

Image Courtesy of Binance.com

Bears switched control over bulls’ run yesterday. Today’s Overbought-Oversold score is 25-16 still in favor of the Bulls.

I am getting worried about the XRP’s price going nowhere. Its current price is not even close to 8% from its previous all-time-highs last January 2018. We still have 4 months left before the year 2020 ends as the COVID19 pandemic is getting worst, can XRP break its ATH this year?

I give you an overview of the XRPUSD price movements since February to current month of August.

Read my news report for more details of this chart:

Amidst Consolidation Phase And Low Volatility Trading Week XRP Still 90% Below ATH

If you missed my yesterday’s analysis, you may read the report below:

Daily XRPUSD Technical Analysis – August 24, 2020

Please read again my disclaimer above! :-)

As always, 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. Do your own research before buying is the best thing to do. Lots of it!

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!

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Avatar for rafaelken1989
Written by   46
1 year ago
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Comments

thanks mate, will do now :-)

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1 year ago

Good analysis Liked your article Check my new article

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1 year ago