Note, my analysis wont reflect the SEC case, as i am not a fundamentals trader. I only look at wave patterns and price-action.
To start off with XRP is looking very juicy, due to multiple factors:
1: We have the same wedge formation pattern as we had as the run up from 0.24 to 0.75. Why is this important? In general we know that history repeats itself, which is why we do technical analysis in the first place: we make predictions based on present data.
2. Looking at the 4H RSI, we can see the same wedge pattern, as we can see on the chart. So far it seems to respect the support it's following while making higher lows, which is very bullish.
3. According to the 2H CCI, we again have an wedge, But this one is expanding. What follows after an expanding wedge, at the end of Wave (E), is a huge volume indication, where we bounce from the support.
This would be the risk & return setup for this trade. We dont want the price to pass wave (D) which is at 0,49, which will an invalidation of the overall count.
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Never expected this drop. I got stoplossed but bought right back in at the bottom. This is my new count...
I agree with your chart! I believe that the SEC case isn't aimed against XRP itself. I think if this is going to be clarified, XRP can be redeemed, and the results can be similar. It would fly anyway.
UnknownUnicorn6059694
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Looks like one of mine, in other words nice chart keep it up :)
wokkie491
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I agree with your chart. What do you guys think of the H-S formation in the triangle? Does this influence the bullish trend?
TheMarcellVarga
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I think this last drop had made it even more bullish! This doesn't only include XRP. Do you agree?