@rafaelken1989 20 August 2020 more from that month

Daily XRPUSD Technical Analysis – August 19, 2020

**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.** This is another episode of my personalized XRPUSD Technical Analysis for August 19, 2020. My 7 XRPUSD open long trade positions have already entered its 34th 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 **44.69%**.

*Chart was screenshot at 7:31PM Philippine time. Courtesy of* *Tradingview.com* https://www.tradingview.com/ Today’s Intraday open is **0.30305**, high **0.30624**, low **0.28500** and current price based on my screenshot is at **0.29416**. XRPUSD is heavily down by **2.78%** while rival BTCUSD tumbled by **3.26%** and ETHUSD dropped by **3.88%** at the time of writing. Today’s volume is sitting at **43.889 Million**, which is lower than yesterday’s. The top 10 cryptocurrencies including Bitcoin are all down.

*Image Courtesy of* *Binance.com* *images* https://www.binance.com/en/register?ref=38732142 Dotcoin suffered today’s heaviest losses among the top 10. When Bitcoin is down, most of the time or usually all alt-coins will go down as well.

After reaching this year’s highest high at 12,473 last Monday August 17, 2020, correction followed right after and BTCUSD continued to fall 2 days in a row. https://www.investopedia.com/terms/c/correction.asp XRPUSD fall down as low as 0.28500. I saw it with my own eyes live earlier but I know it will not go down below the 0.28 level. I am seeing 0.32-0.33 Resistance and 0.25-0.27 Support levels. So I am comfortable enough that it will not go down below 0.28.

So bears won this trading day over the bulls. With overbought-oversold score of 22-13 still in bulls’ favor.

On the fundamental side, acting Comptroller of the Currency, Brian Brooks stated on his interview with CNN: https://www.occ.treas.gov/about/who-we-are/comptroller/bio-brian-brooks.html https://edition.cnn.com/ ***“We need to get to a place where payments can be transmitted virtually instantaneously, where errors can be eliminated,”***

Let me get straight to the point, Brian Brooks is indirectly promoting XRP’s on-demand-utility VS SWIFT which the latter is expensive in fees and comparatively very slow. I was able to watch it earlier on my twitter account. Big thanks to BrumDogMillionaire for retweeting this.  https://twitter.com/rafaelken1989 https://twitter.com/BrumDogMillion In my opinion, this will boost XRP’s value and I expect big buys soon. As reference. You may read my yesterday’s report here: **Daily XRPUSD Technical Analysis – August 18, 2020** https://read.cash/@rafaelken1989/daily-xrpusd-technical-analysis-august-18-2020-12d70ba9 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!