Ripple has just break out of a 7-month consolidating triangle with huge volume, the biggest volume ever on a single day, and it break all the way to new all-time highs in a single day, from 25 cents to 45 cents, and I’m not even sure we are done rising in the short term.
In Elliott Wave terms wave 1 rose from 5 cents to 40 cents, that is 80 to 1 ratio. Wave 2 was a 7-month lasting triangle that retrace about 50%. And yes, triangles are so common in cryptos that is O.K. to have a triangle as a second wave. If wave 3 is a Fibonacci ratio of 0.618% of wave 1, that will be like 48 to 1, times 22 cents, will give us a price target of 10 dollars. In cryptos wave 5 are almost always the biggest wave, but wave 3 is also bigger than wave 1. If we rise all the way to a dollar in the short term, that will be only wave 1. If not, then maybe we will just rise to 2 dollars. Either way, we have a confirmation breakout on ripple, it is up for the races. And as a disclosure I have a big chunk of my money in it.
The move should take time, last time it took 6 weeks, this time should take longer. Maybe even to early February, so be patient.
Previously I have been recommending Ripple, so this is an update.
Good Luck in your decisions
Comment
⋅
This is my ultra-short-term analysis on Ripple, and given that waves 5 tend to be the longest in Crypto, I'm expecting it to climb to about 60 cents this week, maybe more. After that I will be expecting a week or two of consolidation before it resumes its uptrend.
Comment
⋅
This is my ultra-short-term wave count on Ripple. And as you can see, we are very close to finish the last sub wave up somewhere between 64 to 70 cents on Ripple today. I will be expecting a decline to 40 to 45 cents later this week before we continue moving up next week. We’ll see.
Good Luck to You
Trade closed: target reached
⋅
I just cash out my remaining Ripple. We may climb all the way up to 90 cents or one dollar either today or tomorrow. But I just don’t think is worth the risk holding it any longer.
Looking to repurchase it at around 50 cents later on.
Good Luck to You
Comment
⋅
It appears that we have now break out of a consolidating triangle to the down side. Next target is now $0.55 dollars.
Comment
⋅
This is my short-term Elliott Wave Count on Ripple. I'm still waiting for better price to reenter. My target is about 55 cents in 10 to 15 days. Will see.
Very good ta dude, pretty spot on.
i shorted it 5 min ago, put stop loss at all time high.
Raul_Dominguez
⋅
@MatteoZhou, good job. Be ready to close it later this week or early next week somewhere around 45 cents. The last all time high, 40 cents, is now support, I don’t think we’ll go below that.
MatteoZhou
⋅
@Mexcrypto, thank you for the info, really appreciate it :)
Raul_Dominguez
⋅
@MatteoZhou, it broke 73 cents, 5 wave is extending even more. Next target is 90 cents to a dollar. Sometime today or tomorrow I think. I could be wrong dough.
MatteoZhou
⋅
@Mexcrypto, yeah, i'm not quite sure so i'll wait :/
saffir
⋅
Isn't wave 3 the strongest wave?
Raul_Dominguez
⋅
@saffir, in stocks yes. In cryptos wave 5 is usually the strongest.
WorldEconomics
⋅
Like Ripple, its new highs come crashing down and remains there for weeks before any movement. I would expect it to start coming down as sellers start selling off. Warning to anyone thinking this is a time to buy, they might get stuck upside-down for at least a month or two.
i shorted it 5 min ago, put stop loss at all time high.