By request (shoutout to earduman!), here’s a quick analysis of RIPPLE.
The BITFINEX XRPUSD chart says it with the most clarity: We’ve failed to break out of the 50 EMA three times, going on four. What’s worse is the 200 EMA has reared its ugly head to double-team our poor alt coin.
Support shows at $0.46 with the next level at a suicidal drop of $0.22 (Yikes. There’s likely some support in the 0.30s but it doesn’t look strong).
If the Red Bull traders could just sell and get back to their eSports, sooner rather than later, the rest of us can get in and out of the “despair” phase of the bubble. That would be ideal.
NOTE: The crypto market rarely ever hands us the “ideal”. So don’t hold your breath.
DISCLAIMER: I could be wrong. Some heavy hitters are entering the market (Soros & others). I would expect Ripple to be one of the first alt coins to enter their radar. So keep an eye on unnatural movement (i.e. pump and dumps).