XRP has been progressing through the consolidation zone and has finally dropped below the previous Daily chart level 1 marker, thus making this retracement significantly deep, as it has currently retraced almost 80% of the initial Level 3 move. In the last 24 hours, price has bounced off major support zone (flip zone) and is currently forming a W (Level 3) on the 4 hour chart, where we can expect a bullish trend to ensue from here on in. However before we can confirm this, there may be an additional reset which would take the price even lower to around the 0.33 ~ 0.34 cent area. I consider that move to be highly unlikely, but still possible.
The reason for my consideration are: 1) The manipulation pattern has completed on a higher timeframe, even in Daily should we get a confirmation of Level 1 move, it will continue upwards. 2) The W pattern is in progress on the 4 hourly, we can expect with high probability, that it will form a level 1 pattern which once confirmed, will signify the bullish trend continuation. 3) Looking at the 'TDI', where 'RSI' low point was 9.9 RSI, (with current RSI setting at 10) and has formed a W 4) 'RSI' has made a sharkfin as well as a W, outside of the Lower 'TDI' band. 5) Fast 'MA' (Fast Moving Average) - (Red Colour) has hit the Lower TDI band.
All of these are prime for a super high probability bullish move/continuation.
Note: In lieu of the current high volume dumping of Futures Contracts against Bitcoin (See twitter channel here for live updates: t.me/whalecalls), because XRP is currently correlated with bitcoin, we will see similar movements on XRP, until as such time as XRP is decoupled from bitcoin, which shouldn't be far away, I'm expecting that to happen after the 11th of November.
---------------------------------------------------------------------------------------------------------------------------------------------------------- Obviously, nobody can tell the future and trading is a game of probability based on previous structure, fibonacci measurements, experience etc... Sure anyone can disagree with my analysis, but don't just say you disagree, show me your analysis. However don't be surprised if I don't reply, I'm not interested in debating with people, because it seems Tradingview is full of trolls lately and altcoin fanboys who treat trading and crypto coins like barracking for football teams. I'm a professional full time trader, I live from trading, I make money from trading. I don't care about the name of a coin or currency pair, I just care about making money, and I make a lot of it because I know what I'm doing. ---------------------------------------------------------------------------------------------------------------------------------------------------------- DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar. This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
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"However before we can confirm this, there may be an additional reset which would take the price even lower to around the 0.33 ~ 0.34 cent area. I consider that move to be highly unlikely, but still possible."
If Bitcoin breaks yearly low, would you still imagine XRP @.33c highly unlikely?
UnknownUnicorn661419
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@dRends35, WHY would a break in yearly low in bitcoin, have anything to do with XRP?
Please provide a chart analysis in your reply, don't just write words, so I can understand what you want to say.
Confirmation of Level 1 has now been completed. Where?
Here it is on a chart
0.42 Cents... So much for your friend's Collapse LoL
Now you have a nice day there and a great Merry Christmas :D
dRends35
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@PietroCasoar, Since your previous post 5 months ago XRP really hasn't gone anywhere. Sure there have been some minor deviations but this really doesn't look like a good investment with XRP @ $0.29 currently. Of course the moon shot may be just around the corner as so many preach, but I don't think so. I think there is consolidation as you suggested, but in preparation to move lower and the dominant trend continue. And yes there may be minor another pump before a further dump, but once XRP gets below support at around $0.20, there is quite a drop off and probably 'lights out' for XRP.
Have a nice day.
UnknownUnicorn661419
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@dRends35, oh really? It hasn't gone anywhere? Take a look at the time frame, and then tell me again it hasn't gone anywhere. Look at the highs and lows and tell me it hasn't moved... right? Errr NO! 1 hour, 4 hour and daily charts... the analysis doesn't last 5 months, it lasts days or hours. I know you are just trolling on my post and normally I wouldn't comment back, but I'll make the exception here. If you knew anything about trading, you would understand that if you are looking at a hourly or 4 hourly or daily chart, based on the analysis given, you would know how long that trade would be valid for. I don't base any of my charts on a time, even though the lines move across the time base. During the 5 months passed since that analysis, the coin has risen to a high of 38 cents and dropped to a low of 27.900 cents. Within this range you can trade the coin at various points and make good profit. However seeing you don't know how to trade, this is why you don't understand. I would suggest you start educating yourself by visiting the following website babypips.com/ in order to start to learn how to read charts and how to trade. This might be more useful than just looking at people's ideas without having any educational background. I'm not saying this to be nasty, but as we both know when you comment on my charts and those of your mates (you know who), I have seen a common trend which confirms you lack a fundamental understanding. Please visit that website, it should help you understand more. Have a nice day.
UnknownUnicorn661419
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@dRends35, Just an update for you... XRP hit 40 cents today... It didn't drop to 8 cents or zero like you and your mates say. Trading is a game of patience and probability based on sound fundamentals and technical analysis. You have to do both otherwise if you don't or rely on some magical fantasy algorithm, you won't get anywhere.
If Bitcoin breaks yearly low, would you still imagine XRP @.33c highly unlikely?