alvintanwx

alvintanwx Updated 

XRP has been rejected multiple times when it tried to break out of the falling wedge. Granted, the volume is exceptionally low on the sells and much higher on the buys (albeit without a big shift in price, so supply is still in power). As much as I don't like this, the price might take a tip and break down to the downside if buyers don't step in.

alvintanwx

XRP has really tested our patience over the last 3 months. Prices have been consolidating in a falling edge now with decreasing volume and has reached the end of the pattern. Price needs to make a decision soon, and once it breaks up or down I expect the volume to increase. *Not investment advice.

alvintanwx

We are at the end of the falling edge and there should be a resolution soon. * Not financial advice.

alvintanwx Updated 

All technical indicators continue to point up. We have a breakout but is this a real one or a fakeout? *Disclaimer: Not trading advice, for educational purposes only.

alvintanwx Updated 

We dropped back to the 0.92 area which I said has to hold for my count to be valid. Can be seen as a 0.726 fib retracement, but really needs to turn right up here for the bull case to work out. If we don't hold here, then the bear case is still valid for us to see lower to 0.7 USD. Thread carefully.

alvintanwx

Update on XRP on the previous post. So far going according to my outlook. We held the low and confirmed with healthy volume. If my bull case is right, then we should be aiming for the 1.40 region in the next of weeks.

alvintanwx Updated 

Need to hold the 0.92 region. We may have a bottom in place to take us up to 1.4USD.

alvintanwx

Not entirely clear where XRP is headed for the moment. I have 2 options, one is the bull case, but we need to take out the 1.262 and 1.382 fibs to be sure that we have completed the entire correction. The other more bearish option is that we are still correcting, as the volume does not seem to be indicative of a full reversal, and we need one final wave down to...

alvintanwx Updated 

Update on XRP. If we make one more high as indicated in my count and hold at the 0.764 retracement fib (0.75 USD), we may have a case for the bottom being in. This would be an ending diagonal for the first impulse wave. If the bottom breaks, then alternatively this was simply a ABC counter-wave retracement and we have lower to go before the bottom. I am of the...

alvintanwx

Update since the previous post, as the low was broken and now entertaining the Alt 4 as the last bullish option. If it doesn't hold at the 0.70~ region, the chart breaks down. Price seems to be forming an ending diagonal (falling wedge). MACD continues to show positive divergence on 1h chart. Accumulation/Distribution continues to show positive divergence from...

alvintanwx Updated 

This is my first post as a novice chartist. As you can see on my chart, we held the low again today and we seem to be forming a rounded bottom (accumulation pattern) which has repeated in the past after the crash in December. If we hold the recent low, I expect a XRP to make higher lows and eventually challenge the ATH. Would want to see impulsive 5-wave upwards...