botje11

XRP bearish wedge target reached or stil one more drop, part 2

BINANCE:XRPBTC   XRP / Bitcoin
So it dropped exactly to the lowest support line. While i wasn't sure about the btc pair if it would rop more or not in the previous analysis, we have our answer now. But something to think about, the xrp/btc pair did not drop because XRP dropped, it dropped because Bitcoin outperformed XRP once again.

Anyway, that bear flag on the left i talked about in my previous analysis, might have been turned into a bear trap. This is not just a dumb guess, these things can be big signs sometimes. Like i have showed you all the past months half year. Think all of these hidden signs played out.
For this bear trap to stay legit, it should stay above the 0.305ish. If the second green breaks, than it's probably invalidated.

On the left it looks like it has formed what looks like a bullish wedge . So if it breaks the 0.315ish, than we could be headed to those red resistances. Let's say this happens while Bitcoin doesn't rally much and consolidates. Then maybe, just maybe the xrpbtc might have set it's low after a half year of dumping. If the current low breaks, no way of telling where the drop might end. If this doesn't play out, i don't give the xrpbtc pair much bullish perspective.



Previous analysis:

Comment: The wedge played out very nicely, but i have to say, it's once again very disappointing what XRP shows us. With the big rally Bitcoin made, it barely even went higher after the breakout. Just doesn't make any sense. We can see the xrpbtc pair being very weak once again. Broke the low once again today. We have what seems to be a support level at the blue zone now.

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Thank you david for this update.
+1 Reply
#XRPUSD Is Also Bullish..

+1 Reply
I dont agree botjee

XRP is in front of STOCH RSI bullish DAILY crossover so definitely bullish as bullet.

+10 Reply
botje11 milanjelic
@milanjelic, What do you don't agree on? Read and understand what i say before you say things
+9 Reply
long to short ratio is 93-4 on finex...
+3 Reply
@dab1rd, That's a big difference, think it has been big for quite some time now
+1 Reply
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