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XRP Ripple Price – Big Stick; Big Volume

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XRP Ripple price
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For the past two (2) weeks, XRP Ripple price had been trading in what appeared to be a Bear Flag pattern that one would have thought would likely resolve in the direction of the primary trend, which is lower.

However, XRP had other things in mind for investors/traders as yesterday Ripple ripped into higher ground on enormous volume that certainly caught the attention of those who continue to keep a close eye on the daily action throughout the cryptocurrency landscape.

While XRP has further work ahead of itself from a technical perspective, yesterday’s action caught our attention, in a Big way, with the Big Stick; Big Volume action as we can observe from the daily Chart below:

When observing the daily chart above, we can clearly witness the move that Ripple put-in in yesterday’s session. In addition to the large bar and volume, we can also witness that XRP shot up and through its 20-day moving average and now finds itself resting at its 50 day SMA.

Of further note, it’s been five (5) months since Ripple has witnessed this type of volume explosion, whereby both investors/traders may want to take notice and pay heed.

As previously mentioned, while Ripple still has further work ahead in order to repair the technical damage inflicted over the course of 2018 and still trades well below its 200-day moving average, it’s days like yesterday that ‘may’ be the first shot across the bow that potentially fuels additional firepower in the days/weeks ahead.

Thus, both investors/traders may want to utilize the following levels for additional clues/evidence with respect to direction moving forward.

If XRP can spend the next several days churning/consolidating yesterdays thrust into higher ground, we may just have the making of a right shoulder in a potential inverted Head-and-Shoulders pattern that would certainly be constructive and healthy should such development materialize.

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

Therefore, while some pause and a breath would certainly do Ripple some good and allow it to build additional energy/cause for another attempt at loftier levels, both investors/traders may want to pay particular attention to the action in Ripple in the days/weeks ahead. We may just experience another rip into higher ground.

As always, Risk Management remains priority number one, especially when trading against the overall primary trend of the tape, which remains lower, for now.

Happy Trading!

~iBC

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Charts courtesy of Trading View

Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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collateralized debt position
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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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Hodium
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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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