XPR Growth Chart (if it's not being beaten by Negan's bat)
Lucille has smashed XRP's face in from the previous long term growth channels. While I expect more downside, I still feel optimistic about BTC with the halving coming which had me thinking. At some point, when BTC runs, alt's will follow. Not all of them, as some are dying off, but what if the channel was incorrect. What if that Dec 2017/Jan 2018 blowout to $3 was an anomaly due to to much hype.
This new channel aligns pretty nicely with the initial run of 2017 followed by channel support. It then blew out the top to #3 at the turn of the year in 2018, but fell back down and re-tested the top of that channel again before going below. With 3 bounces from that top trend line, it has a higher probability of being the top of the channel then the newb driven $3 top.
There are a few scenarios this could take "IF" XRP follows BTC at it's halving , but I could easily see a drop to the bottom of this channel. The question is when. It could have a quick drop and run before the halving or it could slowly bleed from the barbed wire spikes until after the halving and then start to rise.
Give me a like if this gave you hope or a good laugh - either way :)
This new channel aligns pretty nicely with the initial run of 2017 followed by channel support. It then blew out the top to #3 at the turn of the year in 2018, but fell back down and re-tested the top of that channel again before going below. With 3 bounces from that top trend line, it has a higher probability of being the top of the channel then the newb driven $3 top.
There are a few scenarios this could take "IF" XRP follows BTC at it's halving , but I could easily see a drop to the bottom of this channel. The question is when. It could have a quick drop and run before the halving or it could slowly bleed from the barbed wire spikes until after the halving and then start to rise.
Give me a like if this gave you hope or a good laugh - either way :)
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Next stop 34-35 cents
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Monthly View update
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So far so good - I'll feel more comfortable with this movement once it breaks and holds above the $0.30 resistance line and confirms it as support
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Still staying inside this trend channel. If the market is going to turn bullish with halving, XRP's next stop is going to be in the $0.41 - $0.44 area
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Kissing the bottom of the channel... take that for what it is
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Update:
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Update on Daily: Daily RSI/Macd are strong - might have a pull back as BTC tests 10k as support. I could see it hitting the 1.618 near the top of the blue channel in the coming week - around 50 cents
Update on Weekly: MACD is about to sing to the positive along with a strong RSI run. The weekly retest of BTC to 10k could ease pressure of RSI being oversold to support a push up to 50 cents. You can also see that the EMA 21/55 gap is closing. If they cross on the weekly and MACD is positive, we could see a fun rally.
Update on Weekly: MACD is about to sing to the positive along with a strong RSI run. The weekly retest of BTC to 10k could ease pressure of RSI being oversold to support a push up to 50 cents. You can also see that the EMA 21/55 gap is closing. If they cross on the weekly and MACD is positive, we could see a fun rally.
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We are close to having a bullish crossover of the EMA21/55. If you take a look at the RSI, it's at a pivotal level that if held, has supported a bullish rally. It also becomes resistance if it falls below.
The MACD is about to cross over with negative momentum as it's been in a downtrend, but an RSI boost would be pretty darn bullish. Overall though, XRP has been the worst performing major.
The MACD is about to cross over with negative momentum as it's been in a downtrend, but an RSI boost would be pretty darn bullish. Overall though, XRP has been the worst performing major.
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If there is a rally in the next 1 week, i'd say XRP could have some strong legs. It would bounce MACD positive, RSI Positive, and be very close to (if not letting it happen) a 21/55 EMA bullish cross
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The RSI bounce has continued and started moving into positive buying momentum territory. In addition, the MACD has crossed back into the positive
Switching to the monthly chart, the MACD just crossed positive. The same RSI circles I made on the weekly don't all align since it's a different view, but you can see the bullish RSI blue line about to be crossed on the Monthly view.
Switching to the monthly chart, the MACD just crossed positive. The same RSI circles I made on the weekly don't all align since it's a different view, but you can see the bullish RSI blue line about to be crossed on the Monthly view.
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last two times RSI reached breakout zone it reached a new channel. 57 cents and 1.56 are the two stops I'm eyeing right now
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Hit the resistance line into the next channel. First target hit... Does this take us to the next resistance line? That's sitting around $1.60
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Adjusted the targets - also see a bull flag forming on the weekly which could shoot us straight up to target #2