I would like to first discuss the "Throw over" channels and Elliot Wave: Ralph N Elliott discovered that price would often pattern in a parallel channel, and not only that, but he often recognized, that on both sides of the channel there was a zone, which he referred to as, " the Throw over" channel. After studying channels & Elliott wave for many years, I can not begin to express how often these channels and throw over zones come into play....it's remarkable after all these years!!! The Throw over zone acts as a buffer area of indecision, and typically price will find it's way back into the main channel boundary and continue it's course! As you can see, I have outlined those boundaries on this chart in dotted lines. There is no real concern until price closes outside of that boundary, which in XRP's case, it would have to close (on a daily time frame) at roughly $0.20 or lower. So, we are flirting with the zone, but if we are patient, we may find that price will "pop" back into the main channel once again, and begin it's climb higher. We'll re-analyze if this changes!
Next, you will see that I have outlined a potential path for price moving forward, and that path consists of a slower climb to ultimately reach the ATH (All Time High at $3.xx), once the ATH is pierced, and price closes above it, then I am suggesting that price will move more rapidly, and similar to that of a parabolic move! It would seem that most people analyzing XRP now have these channels in place (so be it), and they are strongly anticipating the parabolic move to happen instantly, and unfortunately, I believe they may be disappointed in the true path! To be very clear here, I am NOT saying price cannot move in a parabolic nature out the gate! I am simply offering a contrarian viewpoint to the madness where everyone will be driving Lambo's by Valentine's Day! Once price begins to move to higher ground and we begin to see some peaks and valleys, then and only then, will I be able to better forecast the potential path, but for now, this is my best guess! Another option is, we pump really hard, to some particular point, like $2.00- $2.30 range, and then drop all the way back down to $0.30 cents and then begin a slow climb...and yes, I am also aware that other coins, like $LINK have put in a new high, but to me, it's irrelevant for now!
Futhermore, it is entirely possible that the proposed large channel is NOT the true channel that takes price to higher ground! It's not that uncommon for price to reach this point and begin to create a different angle upwards, which will limit each peak until it reaches a point, and then turn parabolic. This may be difficult to understand, or should I say, difficult to explain. The point is, now is the time to let price unfold, and then it will become easier to understand the path, whether it stays in this channel or creates a different one on a different trajectory, remains to be seen!
I leave you with this thought: In August 2019, Brad Garlinghouse mentioned that Ripple/XRP has just started to begin the "walking phase". That could mean many things, and it doesn't necessarily have to correlate to price, BUT it simply could.
My passion is to be as accurate as possible at all times!
Thanks for following! Cheers!
Next, you will see that I have outlined a potential path for price moving forward, and that path consists of a slower climb to ultimately reach the ATH (All Time High at $3.xx), once the ATH is pierced, and price closes above it, then I am suggesting that price will move more rapidly, and similar to that of a parabolic move! It would seem that most people analyzing XRP now have these channels in place (so be it), and they are strongly anticipating the parabolic move to happen instantly, and unfortunately, I believe they may be disappointed in the true path! To be very clear here, I am NOT saying price cannot move in a parabolic nature out the gate! I am simply offering a contrarian viewpoint to the madness where everyone will be driving Lambo's by Valentine's Day! Once price begins to move to higher ground and we begin to see some peaks and valleys, then and only then, will I be able to better forecast the potential path, but for now, this is my best guess! Another option is, we pump really hard, to some particular point, like $2.00- $2.30 range, and then drop all the way back down to $0.30 cents and then begin a slow climb...and yes, I am also aware that other coins, like $LINK have put in a new high, but to me, it's irrelevant for now!
Futhermore, it is entirely possible that the proposed large channel is NOT the true channel that takes price to higher ground! It's not that uncommon for price to reach this point and begin to create a different angle upwards, which will limit each peak until it reaches a point, and then turn parabolic. This may be difficult to understand, or should I say, difficult to explain. The point is, now is the time to let price unfold, and then it will become easier to understand the path, whether it stays in this channel or creates a different one on a different trajectory, remains to be seen!
I leave you with this thought: In August 2019, Brad Garlinghouse mentioned that Ripple/XRP has just started to begin the "walking phase". That could mean many things, and it doesn't necessarily have to correlate to price, BUT it simply could.
My passion is to be as accurate as possible at all times!
Thanks for following! Cheers!