XRP Dominance: Ticking Time Bomb
The hatred for XRP, the fear, the level of uncertainty, the frustration, the level of hopelessness is EXTREMELY HIGH.
Once we see the next major sustained break-out, this will all change.
I plan to be here prior that change in emotion.
Just like the xrp and xrpbtc charts I have shared, we have another falling wedge in the xrp dominance.
I believe we have either bottomed in dominance or will see 1 last shortly-lived spike down in dominance
Once we see the next major sustained break-out, this will all change.
I plan to be here prior that change in emotion.
Just like the xrp and xrpbtc charts I have shared, we have another falling wedge in the xrp dominance.
I believe we have either bottomed in dominance or will see 1 last shortly-lived spike down in dominance
Comment:
Positive divergences in the MACD and RSI
Comment:
Eyes on this, because while Bitcoin has the spotlight, we are nearing a bottom IMO. I could see a 3% bottom
Comment:
I see a final drop in the low 3% range
Could we wick to 2.8%? Absolutely; volatile asset, immature market
However, I think we are on the brink of a breakout IMO
Could we wick to 2.8%? Absolutely; volatile asset, immature market
However, I think we are on the brink of a breakout IMO
Comment:
Something is going to happen within 7 weeks...
Something is going to happen within 7 weeks...
Comment:
Officially broke our falling wedge; another bullish sign
Officially broke our falling wedge; another bullish sign
Comment:
When you compare the prior update to this update, you can see the fallen wedge re-drawn.
But Minisham, I thought we broke out? You can't just re-draw lines to fit your narrative.
Yes, one should never re-draw formations in a chart to fit their narrative. BUT, one should and can re-draw patterns in a chart as it develops, so long as it is valid. As more data becomes available in a chart, it adds perspective, credibility, and should be taken into account. This is what is shown below.
This is a weekly view.
I have shown a slight positive divergence on the RSI.
I also have a larger timeframe falling wedge via black lines
And a smaller timeframe falling wedge shown in red lines (falling wedge within a falling wedge)
To me this says it is only a matter of a small amount of time until we begin to see a break UP and out of this pattern: Implying XRP to gain market cap, implying an increase in XRPUSD (yes, technically the whole market could go down and if XRP remained flat its dominance would increase, but the whole market is too bullish for that scenario)
But Minisham, I thought we broke out? You can't just re-draw lines to fit your narrative.
Yes, one should never re-draw formations in a chart to fit their narrative. BUT, one should and can re-draw patterns in a chart as it develops, so long as it is valid. As more data becomes available in a chart, it adds perspective, credibility, and should be taken into account. This is what is shown below.
This is a weekly view.
I have shown a slight positive divergence on the RSI.
I also have a larger timeframe falling wedge via black lines
And a smaller timeframe falling wedge shown in red lines (falling wedge within a falling wedge)
To me this says it is only a matter of a small amount of time until we begin to see a break UP and out of this pattern: Implying XRP to gain market cap, implying an increase in XRPUSD (yes, technically the whole market could go down and if XRP remained flat its dominance would increase, but the whole market is too bullish for that scenario)