Buy XRP? Think again before you jump into it.

Price has plunged due to negative news around it and in past statistic, a good short term trade to buy is when prices fell by 50% of recent high or by 75% as reversal would often yield 100% gain.
Many would argue that XRP would follow its big brothers (bitcoin,eth,lite) sooner or later , thus we have many upside and we should buy it now and chart is showing reversal now xxx. I would then disagree as this is based on assumption and not the actual chart movement.


Looking at this, would I buy this?
Yes, I will keep it in my watchlist.

So when will I buy and how long I will hold?
Entry should only be when price has fell half of current level to 0.15-0.17 and one has to prepare to hold it for a few years.

Then what is price didn't go down to range ?
Then enter only when price has pulled back after breaking the downtrend. We have to ensure there is an established trend to support the move.

Comment:

Now price has hit $0.17 faster than expected due to coinbase mentioned to discontinue trading XRP on its platform.
Now would be a good time to explore an entry around $0.15-$0.17 and buy and hold with small amount that you can loss in case xrp got wiped out to $0

Comment:

After an hour, it has recovered closed to 50% with current price back at $0.25. Profit taking can starts here.
Most of such reversal trade might hit 100% profit level which means to $0.34 as target price.
Do note often such trade will means it will continue to go under in the future as such will hold a sell view on xrp in mid term for now till trend has change.