Never in 2019, breaking yearly low was so close on Aug 14th and 28th. August has gone with Ripple so under-performing. However, Ripple has raised from the dead and showed tremendous accumulation around this zone. What happens next?
Technical Analysis:
Ripple has tested yearly low with heavy accumulation around 23 - 25 cents mark. Price action ever since continues to flirt critical support with tight ranging between 25 and 26.3 cents zone. As more participants started to realise this range, Ripple has undertaken 18 days of tight consolidation.
Price action in the past one month has split critical support into two micro ranges:
1. Range 1: 25 - 26.3 cents. As liquidity has dried out, it is not surprising that Ripple keeps consolidating within this range for a few days or a couple of weeks.
2. Range 2: 26.3 - 27.8 cents. As price breaks Range 1, unicorn run is not expected to happen straight away but continue to consolidate in a higher range.
As Bitcoin still attracts most of the capital inflows, alt-coins, specifically Ripple, look forward to being low volatility and dried out liquidity. We shall see a clearer setup with minuscule higher lows in the next couple weeks.
What about 20 cents?
Possibly! When Bitcoin hit 7.4k on 4th of Dec last year and undertook 2 months of hovering around 6k critical support, it dipped to 3.1k. So 20 cents Ripple is still on the table! However, it's not about which level the price will fall, it's portfolio management and discipline.
Catching bottom requires years of experience, courage and sometimes luck. One common tactic can be used is 30/30/40. That is accumulating 30% of our disbursement on the highly liquid price-falling trading session. The next 30% applies the same tactic and the last 40% goes to clear trend-reversal trading session.
How Bitcoin affects Ripple?
Last Bitcoin bull run from 3.1k to 14k, we witnessed Ripple underperform with a modest gain of 60% from yearly bottom. To make things worse, Ethereum and Litecoin enjoyed 310% and 490% gains during the last Bitcoin bull run.
Whilst the Bitcoin, Ethereum and Litecoin still enjoy +200% gain after a broad correction, Ripple has officially marked a negative return of -10%. As long as Bitcoin starts to reach market equilibrium, we shall see Ripple keeps consolidating within this range. Otherwise, lower support is on our sight.
There is nothing to do but wait for Bitcoin to consolidate more with dried out liquidity. That’s when the capital inflow starts to spread more evenly between crypto assets, specifically Top 3 MCap coins. Until then, Ripple is still on our watchlist.
Catch your latest Bitcoin action:
- Bitcoin equilibrium - Pathway to heaven: A clear view of how Bitcoin can elevate higher from here
- Bitcoin ATH - Why not? A broad view of Bitcoin's Elliott wave and how the market has acted since the yearly low
Technical Analysis:
Ripple has tested yearly low with heavy accumulation around 23 - 25 cents mark. Price action ever since continues to flirt critical support with tight ranging between 25 and 26.3 cents zone. As more participants started to realise this range, Ripple has undertaken 18 days of tight consolidation.
Price action in the past one month has split critical support into two micro ranges:
1. Range 1: 25 - 26.3 cents. As liquidity has dried out, it is not surprising that Ripple keeps consolidating within this range for a few days or a couple of weeks.
2. Range 2: 26.3 - 27.8 cents. As price breaks Range 1, unicorn run is not expected to happen straight away but continue to consolidate in a higher range.
As Bitcoin still attracts most of the capital inflows, alt-coins, specifically Ripple, look forward to being low volatility and dried out liquidity. We shall see a clearer setup with minuscule higher lows in the next couple weeks.
What about 20 cents?
Possibly! When Bitcoin hit 7.4k on 4th of Dec last year and undertook 2 months of hovering around 6k critical support, it dipped to 3.1k. So 20 cents Ripple is still on the table! However, it's not about which level the price will fall, it's portfolio management and discipline.
Catching bottom requires years of experience, courage and sometimes luck. One common tactic can be used is 30/30/40. That is accumulating 30% of our disbursement on the highly liquid price-falling trading session. The next 30% applies the same tactic and the last 40% goes to clear trend-reversal trading session.
How Bitcoin affects Ripple?
Last Bitcoin bull run from 3.1k to 14k, we witnessed Ripple underperform with a modest gain of 60% from yearly bottom. To make things worse, Ethereum and Litecoin enjoyed 310% and 490% gains during the last Bitcoin bull run.
Whilst the Bitcoin, Ethereum and Litecoin still enjoy +200% gain after a broad correction, Ripple has officially marked a negative return of -10%. As long as Bitcoin starts to reach market equilibrium, we shall see Ripple keeps consolidating within this range. Otherwise, lower support is on our sight.
There is nothing to do but wait for Bitcoin to consolidate more with dried out liquidity. That’s when the capital inflow starts to spread more evenly between crypto assets, specifically Top 3 MCap coins. Until then, Ripple is still on our watchlist.
Catch your latest Bitcoin action:
- Bitcoin equilibrium - Pathway to heaven: A clear view of how Bitcoin can elevate higher from here
- Bitcoin ATH - Why not? A broad view of Bitcoin's Elliott wave and how the market has acted since the yearly low
