It looks like we are pretty close to finish correction and challenge ATH. We are not sure if bottom is already in, so potential move to 0.7 zone is still possible. If we will break 0.95 dark-red box is Your buying zone.. if we will break upper trend line ( red ) from bordering descending wedge we will challenge 1.6 level. Second scenario is test of breakout which took place in April, don't be surprised if we will see short spike to the down side during the weekend.
I put buyorders on 0.66 2 days ago. Got filled today. Pretty happy with that. I am hoping we can see a reversal soon from here.
rafal_w
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@danielbertell, we are on good path ;) Know what You hold. I'm expecting one more sharp test of bottom and we will challenge 1.3 -> 1.6 -> 1.9 -> ATH -> 10 ;) This selloff was massive, - 8k USD in 4 days but personally I don't care .. it's rather funny ;) because I was expecting that move since April. I believe that XRP will spike up when BTC will hit 47-48k ( another leg down expected ). If BTC will challenge ATH ( expected 70k+ ) we will have to wait a bit more. I still believe in 400+ market cap for this instrument.
danielbertell
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@rafal_w, I totally agree. I have been accumulating since mid 2019 when prices was about 0.27 cent. Bought every dip basically and sold some at the tops. When sec drop came i doubled my portfolio in a week on the bottom. I am only using a small portion of the portfolio for trading :) There is a large correlation with mooncycles on BTC and ETH and markets overall.
Quite interesting. Around 26th in Sweden where I live is next reversal day. So we are extremely near a reversal. I think we will get a fast retest of the bottom today or tomorrow.
danielbertell
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@danielbertell, If you place a time cycle on the moon cycle you can also see it is spot on.
rafal_w
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@danielbertell, You are probably right that 60 day cycle has started in late May due to size of correction.
rafal_w
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@danielbertell, I was never considering this type of analysis ;) but it looks quite promising. The only thing I can say is that "Cycles are everywhere". My biggest guess is that heartbeat of market is related with money flow based on financial institutions... They start to invest at some "week" in given month and they want to take profit to get the results. Anf if we will take a closer look on that there is always some battle between short-term investors and long-term investors. I did few updates and for now I see exactly 30-day cycle on XRPUSD and probably 60-day cycle... but at this point it's hard for me to point where 60-day cycle starts ;-)