BITFINEX:XRPUSD   Ripple / U.S. Dollar
- Ripple approaching $2.76 on the upper support line within a day's time. (Pink arrow)
- Green lagging line showing possible sideways movements in the meanwhile as it crosses the candles horizontally.
- Pattern so far similar to $1 and $2 milestones.
- The Ichimoku cloud predicting a slightly lower support line later, but a higher second support line.

The price is now approaches the top of the cloud and signals higher support at $2.76 (pink arrow), around the same as the .382 fib level of $2.77/$2.78 (co-incidence?). It needs to stay above this should the price remain above the cloud for an upward trend to re-commence. Looking at the history of recent price surges, it is so far following a similar pattern.

What I'm looking out for now is:
- For the blue line to cross UPWARDS through the red line
- For those two lines to do this ABOVE the cloud.
- For the cloud to continue to act as support lines.
- If the price goes into the cloud, it's not recommended to open any positions (depending on which website you read).

I know many who use moving averages, rsi and macd over the Ichimoku cloud , so I put them all on the same chart though I left the moving average lines out as it just gets too messy with the Ichimoku .

Looking good so far with this trading system. Let's see how Ichimoku performs with "The Rippling"!
Comment: Ichimoku didn't work well for Ripple during the latest price swings down.

Worked better for bitcoin during the same time span.
In hindsight, this was some great analysis
PNUTTY matiago
@matiago, Thanks though I'm not sure which part you like about it.

I know some others following Ichimoku for Bitcoin and Ripple -> right now shows a big downtrend for at least a couple more months before the support cloud starts rising.
@PNUTTY, The fact that XRP couldn't break the 2.75 kijun-sen on the 7th/8th was a sell indicator, if you hadn't already sold when it dipped below the kijun
So ?
@sa3di, hi There!

SO, nothing really. I track how Ichimoku works for some of the cryptos. Generally I dont use it but it's of interest!
+1 Reply
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