GrantPeace

Ripple (XRP) Retracement

BITSTAMP:XRPUSD   Ripple / Dollar
XRP has repeated this sequence 4 times, almost to perfection.

The first consolidation period lasted for approximately 9.5 days and resulted in a 533% rally from the previous ATH             pivot .
A retracement of 78.6% ensued throughout the second sequence.

The second sequence lasted 5 times longer than the first consolidation period and resulted in another 533% increase from the previous ATH             pivot .
A retracement of 78.6% ensued throughout the third sequence.

The third sequence lasted 5 times longer than the second sequence and resulted in (yet again) another 533% increase from the previous ATH             pivot .
I expect another 78.6% retracement to occur. This will put the price of XRP below 1$.

Comment: The spike higher than the 533% level was a result of buyers continuing to purchase out of emotion, creating overbought conditions.
Comment: Accounting for the slightly higher pivot (not calculated using the all time high), the retracement target is approximately 87c. This is the revised price.
Comment: Target Achieved.
Comment: 87c Spot on.
https://www.kenzing.com

Related Ideas

When BTC bounced off 10k last night to around 11k, XRP bounced to around 1.23 or so or more than twice the BTC bounce in percentage terms. I'ts still the third most traded crypto on Bitfinex, despite all the FUD in chat, IMHO if/when BTC bounces XRP is going to bounce harder and faster. Would be very cautious holding around 12k BTC as we could have another BTC retracement around then though, all else will follow as usual.
Reply
WHAT IS THE PRICE GOR XRP/BTC TO BUY
Reply
we can buy now @GrantPeace ?
Reply
Great,

what now? Shall we wait or buy? :-)
Reply
When you posted this I was....come one there are some great news why it should fall.....hehe, to bad I didn't toked 25-50% profit.Well done!
Reply
next 25 cents?
Reply
@GrantPeace so what's the next target to sell? Got my order open for $0.88 :-D
Reply
bravo...
what now?
+1 Reply
eryksd kikan
@kikan, moon rover wit spinning rims
Reply
English
English (UK)
English (IN)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体
台灣
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out