Sorry but I am short on XRP
2024-12-06

I have been looking at everyones idea's and overall everyone is pretty bullish. I am not a bear, but my eyes must be cross-eyed because I just don't see 'Bullish'.

I have shown you the Weekly Time Frame, because I think this really gives a good view of where I think XRP is at -

 
  The RSI is massively oversold, in-fact its the highest it's ever been since 2018 (can't look back any further on the chart I am using).
  The weekly candle closes in a few days, but it is looking awfully like a swing failure pattern. Which would be very bearish for me.
 

If you are looking at the daily, zoom out to the weekly/monthly, it gives a different picture. All in all I think XRP is overheated. I will be looking at the previous all-time high as a point of support if it loses than I will be looking for prices at around $1.41. And to be fair, this makes sense to me. If XRP is to achieve the massive prices everyone's predicting, it's probably going to go sideways for a bit to catch its breath before its next leg-up.

Lets not forget that XRP giveth and also dumpeth.

Someone please let me know I am not the only one thinking this!