Hello Traders Investors And Community, Welcome to this analysis where we are looking at the XRPUSD weekly timeframe cyclical perspective. As XRPUSD is trading in this massive ascending-channel-formation and already confirmed one major bull-market exaggerating above the green cloud of the thunder-cloud-suite and above the 100-EMA it is now about to complete the second bear-market-period which has amazing similarities to the first one. XRPUSD has already tested the lower boundary in the current bear-market once and confirmed it properly as support, besides that the thunder-cloud-suite also already closed weekly in the green section, these are just beginnings of the final bull-market-confirmation which will emerge when XRPUSD shows up with the remaining price-action to fully confirm it the upcoming times.
Looking at my chart you can watch XRPUSD moving within the triangular-formation which is building similarly to the first one between the upper boundary of the accumulation channel and the lower boundary of the massive ascending-channel-formation, such a sideway period is known for a heavy breakout which is, in this case, the breakout to the upside with a high possibility as we have seen it already in the past where XRPUSD has shown up with its protracted bull-market in 2017. What is also important now is that XRPUSD has closed by weekly close within the green fraction of the Thunder Cloud Suite which is a bullish sign signaling the bull-market to show up, such signals already confirmed the bull-market also within Bitcoin, the fact that XRPUSD has closed there gives the edge that the final breakout and further confirmations arent not as that much far away as imagined.
XRPUSD is in a situation where it has to show the ongoing consolidation going on in the triangular-cluster to gain strength and come up with the final breakout as we have seen it already in the first one, currently, this is a high possible scenario likely to show up due to the fact that the thunder-cloud-suite already turned green. The final confirmation of the bull-market will show up when XRPUSD closes above the upper boundary and above the 100-EMA with a decisive move which will activate the next movements and ongoing tests of the upper levels to take place as we have seen in the past XRPUSD can just show up with exaggerated volatility and high potential to develop as it was one of the pioneers in cryptocurrency and is adapted by many economic solutions the fundamental edge gives also positive signs for the development now it is necessary to show up with the proper validations as suggested till the final bull-market establishes.
In this manner, thank you to everybody for watching, have a good day and weekend as well as good trading, all the best! "There are many roads to prosperity but one must be taken."
Information provided is only educational and should not be used to take action in the market.
@VincePrince what low levels are you looking at specifically ? 20 cent to 25 cent range ? I'm looking to accumulate long positions here as well. Thx
Gaengphed
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Hi VincePrince! That was a sudden wick last week! And the strangest thing is that is only on Poloniex! There's no other exchange (or chart that I could find) that printed that wick down to 18 cents! Just wondering what your thoughts are about this. Thanks for all your analyses and charts, really incredible!
VincePrince
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@Gaengphed, They taking advantage of the failing liquidity and liquidate positions where low volume lie, such wicks are sometimes also seen at other exchanges and others not.
I've screamed 2021 and 2023 bull runs since late 2017. I couldn't agree more with this idea! Thanks Vince! I feel positive for an ATH run by then.
VincePrince
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@AschraM, Hehe, good perspective, will be an interesting journey to develop, all the best.
AschraM
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@VincePrince, its just made sense ya know? They said 3 to 4 years for regulatory clarity in late 2017. Add 4 years and we get 2021. Add 2 years for slow poke congress and you're stuck with sometime between 2021 and 2023 for a solid answer. I will be happy if we get this pump in March or April of next year. :) very happy
VincePrince
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@AschraM, I see your approach but time is mostly relative especially in trading and investing, more important to look at the technical validations.
That's MACD on 1M XRPBTC, by the way:
;)