vthokiee97
Long

XRP 1H Descending Equilibrium Triangle 50% in 30 Days Possible

BITTREX:XRPBTC   Ripple / Bitcoin
So what is XRP (Ripple) and why is it making so many waves? Its Creator Jed McCaleb, launched XRP in September 2013. It is an
Algorithm - Consensus (Proof-of-Work) token. Ripple is the name of a payment network and the payment protocol which powers it. It was developed and released in 2012 by a company of the same name, in order to enable "secure, instant and nearly free global financial transactions". It is built on principles similar to those of Bitcoin             , so many people consider it a crypto-currency. However, unlike Bitcoin             , the source code of Ripple's technology is owned privately by the company, which means that it cannot be verified by any outsider. Ripple is a very popular network: many banks across the world use it as the basis for their own settlement infrastructure, and its native currency XRP (ripples) has been consistently present in the top 5 crypto-currencies by market capitalization for the past several years. Ripple is also a diminishing coin as a small portion is "burned" upon transaction executions. This also accounts for the staggering token(coin) supply of 39 Billion currently. Not to be alarmed however you will never see XRP reduced even into the 100 millions in the next 100,000 years. I have attached several articles about this token for your interests and education.
https://www.reddit.com/r/Ripple/comments/7c77jp/burn_rate_approx_3_xrp_burnedmin/
https://www.coindesk.com/words-real-companies-talk-ripple-xrp-pilots/
http://metro.co.uk/2018/01/29/ripple-price-rally-xrp-listed-dubai-based-cryptocurrency-exchange-7269701/
http://www.arabianbusiness.com/banking-finance/388557-more-good-news-for-ripple-as-adoption-grows
https://mashable.com/2017/12/29/ripple-currency-is-not-actually-currency/#IyGrsZvUSgqc

Ripple has made many headlines in the last 30 days. New all time highs on 1/4/18 of almost $4 dollars sent buyers into a frenzy. However, as the global crypto market saw a huge but needed correction XRP is currently trading around $1 - $1.50 as of late. Noted below are the 5 major points of market cap reduction over the last 25 days. They have contributed to huge market fluctuations and as much as 40% reductions in market cap at times over this period.
#1 1/8 23:47 UTC ($829,667,000,000) to 1/9 14:47 UTC ($702,303,000,000) -14% Market Cap Drop = 1,600 Satoshi Drop XRP
#2 1/10 22:47 UTC ($731,310,000,000) to 1/11 04:47 UTC ($628,386,000,000) -13.5% Market Cap Drop = 2,400 Sat Drop XRP
#3 1/11 16:47 UTC ($711,734,000,000) to 1/12 00:47 UTC ($649,125,000,000) -9% Market Cap Drop = 1,800 Sat Drop XRP
#4 1/15 16:47 UTC (713,329,000,000) to 1/16 01:47 UTC ($641,990,000,000) -11% Market Cap Drop = 2,000 Sat Drop XRP
#5 1/16 01:47 UTC ($641,990,000,000) to 1/17 15:47 UTC ($428,556,000,000) - 34% Market Cap Drop = 3,100 Sat Drop XRP

So on with the trade. I am very bullish on XRP in the next 12 months. As you can see on the chart we have multiple descending equilibrium triangle which have formed over the last 30 days. This token is looking to break out of the current descending channel its currently in over the last 7 days or so. The small cup and handle that has formed on the tail of the 1 hour chart is a positive bullish trend reversal sign. After nearly 80% FIB RETRACEMENT this token has appeared to be in the 4th leg of its current correction wave. I believe if this token breaks out of the current triangle above the 30 day support line we could see it hit point #5 (.0015702) of the Elliot wave in the next 15 days.

Here is the trade!
Entry Point .00010600 - .00011900
1) Target .00014007 (.382 FIB)
2) Target .00015702 (.5 FIB) Take 20% Principal
2) Target .00017398 (.618 FIB) Take 20% Principal
3) Target .00019811 (.786 FIB) Take 20% Principal
4) Target .00022886 (1 FIB) Take 20% Principal
5) Target .00031766 (1.618 FIB) Take 20% Principal New All Time High
6) Target .00046134 (2.618 FIB) XRP $5.30 current BTC             Price
7) Target .00060502 (3.618 FIB)
8) Target .00069381 (4.236 FIB)

Good LUCK!
Comment: Remember this is a voluntary trade and my ideas on how to trade it. This is not financial advice and if you invest or follow this trade only risk what you can afford to loose. Patience is the key and all of these targets above are possible but not a guaranteed outcome. Thank you and your patience with Crypto trades will bring you much success.
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