BTCUSD has been forming a very structured ascending triangle for the past 4 months on the 1 week chart. This is a very bullish pattern that just happens to be the opposite pattern that pushed us down to 3.1k, a descending triangle. BTCUSD is now testing the 4k resistance area for the fourth time in four months. It seems BTCUSD has 1 week before breakout of this pattern.
XRPBTC has been forming a falling wedge pattern for the past 4 months. This pattern has a high success rate. This also looks to be within 1 week of breakout.
XRPUSD has been forming a symmetrical triangle for the past SEVEN months! This pattern can typically break to the upside or downside. In the case of XRP I believe it will be a break to the upside. There has been bullish news daily about Ripple for the past months! The price has not reacted yet! Ripple has said it has begun promoting their xRapid solution which utilizes XRP coin, over their xCurrent solution which doesn't use XRP. When the partnered institutions really start using xRapid, they will need lots amount of liquidity. It wouldn't make sense for XRP to break down to the 20 cent range. The liquidity would be much less and it would not look good to all the institutions who are ready to start utilizing this blockchain software.
What I also find interesting is that Monero and Dash broke out today which is their first largely bullish move in the last few months. These coins are OG's and the closest to the top 3 coins. It would make sense that the top 3 coins begin their bullish moves next.
Please share constructive comments below.
XRPBTC has been forming a falling wedge pattern for the past 4 months. This pattern has a high success rate. This also looks to be within 1 week of breakout.
XRPUSD has been forming a symmetrical triangle for the past SEVEN months! This pattern can typically break to the upside or downside. In the case of XRP I believe it will be a break to the upside. There has been bullish news daily about Ripple for the past months! The price has not reacted yet! Ripple has said it has begun promoting their xRapid solution which utilizes XRP coin, over their xCurrent solution which doesn't use XRP. When the partnered institutions really start using xRapid, they will need lots amount of liquidity. It wouldn't make sense for XRP to break down to the 20 cent range. The liquidity would be much less and it would not look good to all the institutions who are ready to start utilizing this blockchain software.
What I also find interesting is that Monero and Dash broke out today which is their first largely bullish move in the last few months. These coins are OG's and the closest to the top 3 coins. It would make sense that the top 3 coins begin their bullish moves next.
Please share constructive comments below.
Comment:
I hear people talking about how there is "no volume" on XRP. Always remember that when looking at a chart, the volume shown is the volume from that ONE exchange. You can look at the market cap of XRP to find all volume from all exchanges combined. Volume is rising and is significantly larger than before XRP's move from 20 cents to $3.33
Trade closed: target reached:
Wow!
Comment:
Ripple has not begun. Bitcoin on the other hand is insane! Uncharted territory!
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