RandomOracle

Logarithmic Trend on XRP, XRP bottomed out last year

Long
POLONIEX:XRPUSD   XRP / U.S. Dollar
POLONIEX:XRPUSD

Here is a different view of XRP compared to my old one ( )

Despite everything happening with XRP, we have touched the bottom of the logarithmic channel and XRP is ready to shoot past that fib above which has been quite strong resistance.

The SEC outcome will determine what happens with the XRP chart.

Either we drop back to the bottom of the channel for a while, or we jump over the fib above and slowly move towards the top of the logarithmic trend channel

Comment: *My previous XRP idea has been updated*
Comment: There is a fib around 55cents that's important to break & hold before we can make a move towards the 80cent region
Comment: Here is a closer look around the key area
Comment: This was posted on my previous XRP idea, however I'll be expecting the price of XRP to follow a pattern kind of like this:
Comment: New idea!
Comment: What's that famous saying? "Be fearful when others are greedy, and greedy when others are fearful"
This is applicable to the current situation with XRP...
Buy the fear..
Sell the greed..

I've had a closer look at the weekly chart against BTC for XRP & noticed some more bullish signs:
- VMC's market cipher B shows a triple bullish divergence on WT (on the weekly scale)
- VMC showing bullish divergence on stochastic RSI as well
- MacD bullish crossover just occurred
- Buy signals flashing on VMC B
- Appears bottomed out (Confirmed via other charting methods e.g renko/P&F/Line-break) *See idea posted for XRP/BTC*

Now, with the declining price, increasing volume and strong bullish divergences in a very strong support area for the XRP/BTC pair, this could break out at any moment...
Buy the fear..
Comment: Point & Figure Chart set to 5min shows a massive ascending triangle forming, a break above would lead to a major rally
Comment: Zoomed in
Comment: ^More macro scale
Comment: XRP is in a massive double descending wedge & ready for a big breakout on the BTC pair
Comment: ^New idea for XRP
Comment: PA update for the ascending triangle on P&F for the USDT pair
Comment: 1hr line break chart showing massive resistance cluster above
Comment: A look at resistance with renko set to 1hr bricks
Comment: Here is a nice & clean look at support & resistance areas for the XRP/BTC pair on a renko chart
Comment: Reduced brick size to spot the early reversal
Comment: Looking at just demand only with a P&F chart, we are in an area of demand for XRP that's only been visited 3 other times, each with a major breakout & price move up
Comment: Triangle almost broken
Comment: The ascending triangle on Point & Figure broke out!

Comments

Very good work Sir, i learn a lot from you
+1 Reply
RandomOracle BuzzLightcoin
@BuzzLightcoin, Thank you!
Reply
I like it, wonderful.
+1 Reply
great work.
+1 Reply
RandomOracle Scala2020
@Scala2020, Thanks!
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bafeitelufei Scala2020
@Scala2020, 3U-25U-------150U 2021
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Man, you're awesome! Thank you for sharing your TA to plebs like me.
Reply
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