XRP Monthly Chart Outlook

PukaCharts Updated   
With the XRP court case likely reaching deliberation in coming months, I wanted to really get an idea of where the chart is at.

I located and plotted trigger points, boundaries and of course a time structure.

It is clear that there is a nice time pattern. Open the chart and see the months and see how they move in similar increments both by month and by number.

Interestingly, a bullish thesis is hidden in the chart;

1. Large Pennant reaching its end (decision point).
2. MACD Cross appears to be imminent (I recognize this is a lagging indicator and would not rely on it, regardless it looks positive all the same).
3. The time pattern (colors) suggest bullish timeframe should commence sometime between now and Jul 2023 (Whilst this trade is generically risky, risk should reduce the closer we get to the green window in July 2023 however so might the earlier returns).
4. Good entry points are the bottom of the pennant or when we close above the 20 month MA. If you want you could start nibbling at this mid point.
5. Hopefully exit TRIGGERS can reach the fib 1.0 extension @ 5 (sell majority here) and the 1.618 extension at 27 (small remaining allocation).
6. Risk return is ideal as the bottom of the pennant is your exit and upside it pennant targets noted above.

- Price above 20 mnth MA (almost)
- OBV to break trend line or progress horizontally through it (almost).
- MACD cross (almost)
- Majority de-risking @ $5. Remainder @ 14 - $27.
- These exit points would likely occur between Jul 2023 - Sept 2024 (So this is a long term trade on a long term chart)

- If we close a weekly candle outside of the pennant. Exit trade.
- If we a strong rejection off the 20 monthly moving average. Hold off on entering trade.

This chart is another fine example of how timeframes can help us structure a trade. Please note that this is a long term 12 - 18 month trade minimum. You could be exiting at any stage over those months depending on the trigger events mentioned above.

Good luck

This MACD is about to cross.

The OBV resistance line could be about to be breached

The timing here is perfect between now and July.

Have you position in place and manage your risk as outlined above.
We are now above the 10 Month SMA and it is moving upwards.

Target 1: $1.11 Sell 50% of position
Target 2: $5.00 Sell 75% of remaining position
Target 3: $27.00 Sell 100% of remaining position

Taking this approach means you get your allocation back at $1.11 with a little profit and you can let the rest run to the other targets. PATIENCE IS KEY.
Major Positive news folks....

In Summary my understanding is:
- The ICO release for XRP is considered a security
- Any exchange sale or secondary sale on an exchange or any airdrop is not a security.
- This is massively good news for XRP and exchanges and should grease the wheels for altcoin liquidity.

Chart now has the following confirmations (originally shared in April 2023):

- Monthly MACD cross
- Broken above the 20 month SMA
- Into GREEN timing window
- OBV about to break above trend line

Don't forget our aforementioned risk strategies . Without a risk strategy, we are not traders, we are gamblers.
- Confirmed MACD Cross on the monthly
- OBV still pending a breakout
- Into the long term bullish timing window. This means if you hold for the next 12 - 14 months we should have a surge within that window based on historic time patterns.

Finally be careful as we could revisit the bottom of the long term pennant (no guarantee) but good to have a stop loss under that and/or some cash on the side to weigh in more if it is revisited.


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.