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 am reminding my dear readers and followers that all the contents from this article and my previous ones are my own personal views and does not guarantee profits nor advice. I am doing all my best to express my own analysis using the indicators that I have chosen.
I trust that you are having a great weekend.
Today marks the 46th day of my XRP portfolio. I got a total of 10 different long positions at various buy entries and corresponding dates. I am now sitting at 34.03% total profit. ;-)
It has been a healthy 3 days for the XRPUSD price following the Jackson Hole Symposium‘s aftermath that boost most of the cryptocurrencies including XRP.
To support my claim, you may read one of today’s XRP news headlines:
Fed’s Inflation Policy Shift Will Greatly Benefit Crypto, Says Ripple CEO Brad Garlinghouse
The US Dollar is getting weaker and weaker as Monday approaches.
Chart was screenshot at 6:30PM Philippine time. Courtesy of Tradingview.com
In the past few days of trading, I have been focusing on the intraday’s key statistics. In which I believe is important in keeping an eye on the price action especially trading in any cryptocurrency’s volatility. It offers riskier challenges but can be very rewarding if done correctly. Remember to read my disclaimer above again and again. Thank you! :-)
Intraday’s key statistics:
Intraday Open – 0.27402
Intraday High – 0.27846
Intraday Low – 0.27396
Intraday Current (based on my screenshot) – 0.27589
Tight trading range at 0.27 cent level.
XRPUSD is up by 0.70% at the time of chart screenshot
Today’s trading volume is the lowest since my entry last July 16, 2020 at 7.856 Million.
I have mentioned about the new chart indicator in my yesterday’s analysis. Quoted below:
It is called Bollinger Bands. :-)
In my opinion, it is a very helpful indicator that is specific for short-term trading and can be precise up to 80% of the time. Thanks a lot for the one who shared this trading trick to me. God bless you man!
This indicator also gives me the possible supports and resistances specific for the intraday:
So today’s resistance and support levels based on the BB indicator are:
0.28 – 0.31 levels
Just a little above the 0.26 cent level.
The King coins are in gains today.
Binance top 10 cryptocurrencies of the day. The BTC, ETH and XRP are in solid top 3 spots as always!
Image Courtesy of Binance.com
The Overbought-Oversold Zone:
Overall score of 28-18 still in the raging Bulls’ favor. They are on the 3-trading day winning streak. Do the Bears have something up their sleeves? We’ll find out tomorrow’s closing as the markets are heading towards manic Monday.
Still, 96% of clients go long for the XRPUSD.
Image courtesy of Dailyfx.com
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!
