Ripple is falling hard
Ripple appears to be correcting, retracing 25% back over the last 12 hours and is testing support at 26p.
I have mentioned previously that I sold my out my positions in three waves, each time if I had held my nerve my profits would have been much higher.
Sometimes you have to follow your gut instinct, as previously mentioned I have many concerns about the rise in the price of Ripple and think it is in bubble territory. I made over +1,000% on my Ripple trades, could have been +2,000%. Bloody ridiculous when you think about it.
Will I re-enter when the price drops? Maybe but I am not sure, there are two terms with investment which always come to mind. Firstly, don't catch a falling knife, the implication between a drop in price may seem an opportunity, but it can drop further. Secondly, don't be a bag holder, the point being not to hold onto a losing position without reason.
I have attached two charts to look at; the first is the last 24 hours which shows the retrace. The second is the all-time chart, which shows a price spike in November '14 which eventually retraced back to near nothing.
This is why I say that it is important to understand the coin use, the team, the tech, etc... when making investments. Ripple feels like a great investment, but I have too many concerns.
Any questions then please give me a shout.