tradeformula
Long

History Repeating / Party Zone

BITSTAMP:XRPUSD   Ripple / U.S. Dollar
This is an addendum to the History Repeating post I made on 1/5 as the last gasp of the dip has shaken out, and the market has confirmed it's following the strong upwards support. I see a similar boom/bust scenario playing out, and am using historical data to gather that this wave will be at least as strong as previous moves, but I have a hunch it'll be stronger as there are known announcements coming out this month.

I believe we'll achieve at least $4.60 over the next 5 days, but depending on the announcement (Western Union & Moneygram), it could be much larger.
Comment: I'm very pleased at how price action has mirrored the blue line thus far. I free hand drew it based on how price exited other phases in anticipation of how historical recoveries have occurred, we'll see how close the timing is as the larger moves happen.
Comment: Well, the past couple hours have been disappointing. It appears at this point the longstanding trendline is broken unless a significant move upwards occurs. I think it could be fair to say that we're in a confirmed downwards trend at this point.
Order cancelled: Party Zone? Some party. Well, everything looked pretty solid until it didn't. I'll do more analysis, but it looks like we have a bounce coming up around 2.15, I'd be quite surprised if we fall below that. If so, next support I see is 1.96
I won't be surprised, according to good news and proof of use and usefulness by banks, that Xrp could be around the 32$ at the end of 2018. But... imagine that capitalization.
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always right !!! thank you for good analysis!!!
+1 Reply
ElGorgos DmytroNikitin
@DmytroNikitin, Not this time :(
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@ElGorgos, It's true, unfortunately. Still long term bullish based on fundamentals.
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Nice very Nice . i hope $4.60 over the next 5 days
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Oh man I hope so. I really do. I'm gonna sell so hard if we hit 5 bucks each.
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Amazing TA. It should be the best ta for the XRP.

We are waiting good news and almost finished correction. This time, i really trust XRP :)
+2 Reply
@Mejora, I'm amazed at how close it's following the blue line so far. I modeled a similar zig zag line based on the exit of the purple triangle and entry into the magenta triangle, but I did it freehand. Combination of observation & luck.

I completely trust XRP as well. I have held for a long time and lived through years of disappointment in how it performed, even with great news, but it's really happening now. 2018 will be an outstanding year, and my only regret is not using every penny I had to stock up while it was less than .005
+3 Reply
Nice plan, hope you’re right with this. Personal I expect $4 for sure for the end of january. Good news will gehad us to 5$ where profit taking will happen.
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