Well not much to be said here other than the notable similarities between the two periods: December 2014 - March 2017 vs December 2017 - March 2020.
* See how the LMACD is printing the same sequence and is rolling over. * Orange is the High Volatility zone and has been respected on both periods. * Will the same (or roughly) duration be respected? * The Golden Cross (using MA50 and MA100) can be the confirmation we need. * Lower High trend line (dashed) has to break. * The 0.786 Fibonacci retracement (from the bottom of the High Volatility zone) was achieved.
Is XRP USD ready to break parabolically? Let me know in the comments section!
Please like, subscribe and share your ideas and charts with the community!
Hi Tradingshot, excellent analysis as always :) I am very bullish on XRP, too. XRP could indeed start a pump in a few months, but the likelihood for that would be much higher if BTC would reach the 20k area.
That's what happened during the pump of March 2017, BTC back then touched the old ATH. I don't know if XRP can start a pump of such magnitude without BTC reaching the old ATH level. So we have to wait and see what BTC will do :)
TradingShot
⋅
@FlaviusTodorius67, Excellent view Flavius! Great long term perspective as always!
Nilles
⋅
I do agree @TradingShot , but i think some wicks around $0.13 are imminent. The $0.24 ish support couldn't hold and the recent rise was a retest of the broken support. On the long term XRP is a profitable trade anyways.
TradingShot
⋅
@Nilles, Well yes this cycle's support is at 0.13 anyway.
WorldEconomics
⋅
The ONLY reason Ripple will go up in price is because of Bitcoin first going up in price. Ripple has lost a lot of confidence
TradingShot
⋅
@BankofEngland, I agree on the Bitcoin part but not as far as confidence is concerned. More often than not we see cycles in crypto repeated over and over again.
tradeformula
⋅
@BankofEngland, your namesake (the actual Bank of England) disagrees with you
WorldEconomics
⋅
@tradeformula, - Considering Ripple and other institutional holders of XRP have dumped $2 billion worth of XRP, your statement holds no water.
tradeformula
⋅
@BankofEngland, Look at XRP/BTC over the past 5 years and reconsider your position, it swings wildly. They're not as linked as you think
That's what happened during the pump of March 2017, BTC back then touched the old ATH. I don't know if XRP can start a pump of such magnitude without BTC reaching the old ATH level. So we have to wait and see what BTC will do :)