Lot of points here:
Linear vs Logarithmic:
On a logarithmic graph some are drawing XRP in a channel. Others, on a linear graph are drawing XRP in a falling wedge. Linear charts have a fixed distance between price levels, while log charts have fixed distances between percentage moves. As a result, even though the high/low values of XRP within the wedge are different for each cycle, percentage wise the cycles are the same. Naturally, you get a straight channel on a logarithmic graph. Once the apex on the linear graph is reached and decision time comes for XRP, the channel of the logarithmic graph naturally will be disrupted as well. So looking at previous cycles on the log graph, and assuming XRP will repeat this, is not necessarily true. As XRP is both at the apex and is hitting disruptive support levels.
To visualize how the log graph pattern can be disrupted, I took the same snippet in yellow for both graphs to give an idea how XRP would look. I did not show XRP breaking out, but you get the idea.
Support Levels
Another factor that needs to be taken into account is support levels within the apex are being encountered. I show this on the graphs.
Accumulative Volume
Take note that the Accumulation Distribution Line (Accum/Dist) and On Balance Volume (OBV) are both increasing on the 1D graph, while the price of XRP has been falling. Very bullish.
200 day MA
In Dec 2017 the bull run started when XRP broke the 200 day MA. Will breaking the 200 day MA have the same effect in 2020?
Linear vs Logarithmic:
On a logarithmic graph some are drawing XRP in a channel. Others, on a linear graph are drawing XRP in a falling wedge. Linear charts have a fixed distance between price levels, while log charts have fixed distances between percentage moves. As a result, even though the high/low values of XRP within the wedge are different for each cycle, percentage wise the cycles are the same. Naturally, you get a straight channel on a logarithmic graph. Once the apex on the linear graph is reached and decision time comes for XRP, the channel of the logarithmic graph naturally will be disrupted as well. So looking at previous cycles on the log graph, and assuming XRP will repeat this, is not necessarily true. As XRP is both at the apex and is hitting disruptive support levels.
To visualize how the log graph pattern can be disrupted, I took the same snippet in yellow for both graphs to give an idea how XRP would look. I did not show XRP breaking out, but you get the idea.
Support Levels
Another factor that needs to be taken into account is support levels within the apex are being encountered. I show this on the graphs.
Accumulative Volume
Take note that the Accumulation Distribution Line (Accum/Dist) and On Balance Volume (OBV) are both increasing on the 1D graph, while the price of XRP has been falling. Very bullish.
200 day MA
In Dec 2017 the bull run started when XRP broke the 200 day MA. Will breaking the 200 day MA have the same effect in 2020?