I've put a couple charts together trying to compare the XRP current set up with the beginning of its previous bubble, but I feel like everything is coming together like a perfect storm; including the panic sells we saw on monday. I took the fib levels and tried to match them up with the previous initial run up to try and project the potential price targets for this run up before the Swell conference (Oct 16th). Based on the comparison, first we should see if we can break 7000 sats, followed by a fomo pump to 12000 sats, an immediate sell off as the conference begins (buy the rumor sell the news), and then if the conference has any significant revelations, the follow up pump to 20000 sats. 5 days left, lets see if XRP can separate itself from the pack. The price movement on bitcoin will obviously have a major effect on this chart, and if bitcoin does infact go to $6000 like so many people are forecasting, i imagine this chart will not work out. Let me know what you think, and good luck trading.
I wonder if people will sell BTC for bucket loads of discounted XRP very soon.
Brodie_MT
⋅
@kaku2084, I think it all depends on what the bitcoin price does. If BTC breaks 5k I dont think the xrp btc pair will do much moving; the xrp usd pair should still climb though.
justery
⋅
what is your prediction for the day before swell?
7333?
Brodie_MT
⋅
@justery, well before bitcoin jumped up this morning i was thinking we could go all the way to 10,000 sats, but I think well be lucky to be over 6000 now. i think the xrp USD pair will still see a fair amount of upside though.