XRP has a huge supply and most of the supply is locked in an escrow wallet. The concentrated supply of XRP in a few hands makes XRP manipulation tough.
Most popular manipulations are fake breakouts and pumps crossing critical resistances which eventually fail and playout as bull traps.
XRP is of one the only crypto tokens which undergoes a constant selling pressure from its parent company thru market makers. Pumping XRP above critical resistances is not viable as Ripple market makers sell into tops and offload chunks to maintain cashflow.
The trend is clearly bearish across all crypos and stocks globally. With companies making record lay offs, an impending recession triggered by a blackswan event is inevitable.
This penant marked with yellow lines will breakdown eventually, the person who spots the first 12 hr candle of the impending doom will make the most of it.
Remember, Shorting too early is as good as being wrong.
Patience is a virtue.
Most popular manipulations are fake breakouts and pumps crossing critical resistances which eventually fail and playout as bull traps.
XRP is of one the only crypto tokens which undergoes a constant selling pressure from its parent company thru market makers. Pumping XRP above critical resistances is not viable as Ripple market makers sell into tops and offload chunks to maintain cashflow.
The trend is clearly bearish across all crypos and stocks globally. With companies making record lay offs, an impending recession triggered by a blackswan event is inevitable.
This penant marked with yellow lines will breakdown eventually, the person who spots the first 12 hr candle of the impending doom will make the most of it.
Remember, Shorting too early is as good as being wrong.
Patience is a virtue.