✴️ Alert/Important | XRP Market Conditions

Market conditions are always changing, so we need to be flexible in order to be able to adapt to change.

XRP has been shaking... We had a bearish idea and yielded to commentators pressure (one great reason not to read comments) and went ahead to published a bullish idea; the chart was bullish at the time though. The bears came back and we published a new bearish trade idea... XRPUSD remains bearish.

The initial trade idea that was bearish still stands.
There is a very, very strong bearish potential on this chart. You don't know XRP.
The people behind it will fool you deeply if you start to "hope" and "believe."

I am speaking for traders at this point.
You can buy hold for profits on a rise, you can sell before the drop.

This thing is going down... It is better to get out and buy back lower and let the dream be a dream while we focus on our own personal success and growth.

Last week closed as a long-term lower high with a very long upper wick/shadow... This can lead to maybe 20, 25 or even 30 to 40% red.

It is better to be prepared.
I hope you find this information useful.

👉 This trade idea can be considered good timing if you decide to SHORT NOW!

Namaste.

Comment:

Update:

➖ Weekly timeframe: Technically within bullish territory. Bearish potential developing. Lower highs still in place.

➖ Daily timeframe: We have a top pattern and today the action is moving below EMA10 and EMA21. As the daily session closes below these levels (0.6262-0.6233) the short-term bearish potential is confirmed.

We are active with a SHORT on this pair.

Comment:

It seems the drop is about to speed up, I've confirmed through many charts and timeframes. Prepare for the flush. I am thinking that it will last a while, a long one.

We will see though.

Comment:

We have some bearish action but nothing major, still, this is a worrisome chart setup for bulls as a breakdown of the current structure is already taking place.

This is XRPUSD on the weekly timeframe.

The current chart setup shows a rising trend, higher highs and higher lows; this trend is supported by a rising trendline and this trendline is now at risk. Moving below can activate a strong drop and this is already happening.

I used an internal trendline matching three strong reactions based on candle closure, as well as the wick trendline matching more than ten reactions, so these are solid trendlines.

The break below EMA10 and EMA21 weekly is also of relevance.
(Green and slate blue lines on the chart.)

The bearish bias is only becoming stronger; I'll keep you updated.

Namaste.

Comment:

XRP is now trading below MA200 weekly, a major bearish development:

Closing below this level, with the weekly session closing in two days, would open the doors for a strong and fast drop. Relevant support levels can be seen on the chart.

Comment:

➖ Last week XRPUSD closed red, activating some bearish signals.
➖ This week XRPUSD starts green, invalidating those signals.

It needs time to develop.

Comment:

Now! The lower highs on a long-term basis have been happening for exactly three years now, since 12-April 2021, see the chart:

All the signals mentioned previously continue to be valid, intact and now gain strength as they've been confirmed. XRPUSD continues bearish.

➖ We can see a Doji 11-Mar (#1 on the chart).
➖ After this Doji we have a green session that closed higher than the previous one but ended lower based on the candles wick. The last three weeks are red.
➖ This week XRPUSD started green and we now have a full rejection with prices moving below EMA10 and EMA21.

👉 While this is all negative/bearish, XRPUSD is still trading weekly above EMA50 at 0.5613, which is a major, major support level. As long as this level holds XRPUSD weekly is safe.

👉 If XRPUSD moves below EMA50 weekly, expect the biggest drop since July 2023 to take place.

Thank you for reading.

Namaste.

Comment:

Our first target hit which is around 0.4200.

This breakdown is a continuation and break of support, which means that this isn't the end.

There is another support target to be hit (~0.3000).

I hope you make good profits during this bearish wave.

Comment:

I will share a new trade idea with the "long-term buy zone" soon as soon as XRPUSD reaches its support range.

I think this pair goes through one last major flush and we are done with the correction for XRP. After this, long-up.

There can be an accumulation phase after the drop but we will see.
We will ride the full wave to new All-Time Highs with lev. and spot.

Namaste.

Comment:

Look at this, the long-term support trendline we've been discussing remains intact when we use the linear chart:

Here is the log chart for comparison, the trendline remains valid in many ways: