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.
Hello everyone! I am back after missing in action since September 4, 2020. First of all, I just want to let you know that I miss you all!
Starting today, I will write differently compared with my past technical analysis. I will focus only in the XRPUSD intraday statistics and my price speculation or prediction ahead based from it. That also includes my current trading diary. I repeat that this article only applies to my own personalized trading using the indicators that I prefer and do not reflect the general market condition of the XRPUSD worldwide.
So I hope you enjoy reading.
Okay, let’s continue.
Today’s XRPUSD Intraday Snapshot Analysis will be based on September 7, 2020 trading day’s close at 00:00 UTC time for September 8th.
Chart was screenshot at 3:41PM Philippine time. Courtesy of Tradingview.com
Chart Legends:
The Green Flag represents my XRPUSD long position entry last July 16, 2020
The Long Violet line marks the 2nd Highest Price of XRPUSD
The Long Green line marks the Highest High of XRPUSD since my entry
The Long Yellow line marks my current position’s value
September 7, 2020 Intraday’s key statistics:
Intraday Open – 0.23978
Intraday High – 0.24295
Intraday Low – 0.22977
Intraday Close – 0.24216
XRPUSD Close Trading Price is up by 0.96% for the intraday’s market action
The trading volume reached 49.321M
Intraday’s nearest support is at 0.23500+ level while the nearest resistance is at 0.24300+ level. All are based on the Bollinger Bands indicator for the intraday.
Overbought-Oversold zones overall score is now 32-22 since my July 16 entry with Bulls leading the Bears in 10.
97% of all XRP traders are still in long position.
50-day SMA for the intraday close is 0.26867
100-day SMA for the intraday close is 0.23046
200-day SMA for the intraday close is 0.21450
My XRP Portfolio Statistics:
My XRP portfolio total profit is 124.85% as of September 7, 2020 close.
35.67% of my total XRP coins are locked in my XUMM wallet for the upcoming Spark Tokens Airdrop this December 12, 2020.
I got a total of 13 Open trades in which 6 are winning and 7 are losing.
My XRP Price Speculations/Predictions:
I can see the 100-day SMA as the strongest support as of now. Sitting comfortably at the 0.23 cent level. If the Bulls defend this support, XRPUSD is in safe spot.
You may read the news below as a conclusion of my report for today:
https://www.newsbtc.com/2020/09/08/ripple-xrp-price-is-about-to-see-liftoff/
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 have missed.
Have a great day ahead! Stay tuned for more XRPUSD analysis! Thank you! HAPPY TRADING.
May the LORD Almighty God bless you and keep you safe always in Jesus name! :-)
