Wait a minute, isn't it the same centralized-de-centralized coin that was sued by SEC and tested 20 cents a few months back?
This is a chart from 2017-2018. I am sorry to disappoint you, but XRP is yet to test its $2.00 range and break the resistance on charts to reach its all-time highs above $3.
But, looking closely at XRP's charts over the years, one might see many patterns and events repeating like a Déjà Vu.
For example, a resistance level at 0.75/0.80 cents,
Between December 11, and 13 back in 2017, it went up from 23 cents to 80 cents, which is roughly 280% in the span of 3 days. And it repeated the pattern in November-December 2020 with over 200% gains in the span of 2 weeks.
Since the flooring of XRP in January 2021 at around 0.19-0.21 cents, It has come up strong with a gain of 820%, up to roughly $2.00 level. This level was a problem back on December 29th, 2017 and this is a problem again today. Back then we saw a little retracement from these levels, and volume came up strong to support it, then we saw a 60% move in an upward direction only to be slammed back to 0.50 cents within the next 2 months.
I lost a lot in those two months if I recall it. The bad decision that I made was this one...
Volume in 2017-2018 was in the highs of $150M and in 2021 it's in the highs of $250M, this combined with the news about XRP from the courtroom and SEC lawsuit, XRP can come up strong, but let's evaluate the situation and compare it since we should always learn from our mistakes...
Back then...
XRP was up by 200% at $2 levels, I could take 200% profit. But I waited for another 50% ... i.e. from $2 to $3 it's a 50% more gain for me from back-then current levels. I could not draw these conclusions back then, the calculation was simple, take 200% profit or wait for another 50% to 100% profit. The chances of a 50% rally were slim but since it was a crypto boom, we fell for it.
Right now...
I got in XRP right after everyone sold it, i.e. at 40 cents, and I am up by 400% so far with current XRP levels. From the current price to all-time highs, it's just another 100%, so the reward risk ratio is 3:1. I should not take this risk and wait for another 100% or even 200% because the risk is too high.
This time around, there is another problem. XRP cannot be traded in the United States and I am stuck with it. I am just hoping that I would be able to sell it soon as I do not want to make the same mistake I made in 2018.
Let me know your thoughts about XRP and do you think my calculations are fair or am I missing something again?
