RIPPLE - HOW TO: Analyse this market!

Hello dear traders and community! HOW TO: analyse this bullish market! With the example XRPUSD. In my analysis i detected several bullish factors for XRPUSD to skyrocket soon. In my analysis you see this long black parallel channel. XRPUSD kept in the channel for almost 462 days till it broke out on 14th may 2019 with a big green shooting star candle. You can see this breakout clearly on the chart. There are several other excelent factors which make it clear that XRPUSD is definitely a possible trade on the LONG side. In my chart provided you can see this big green descending wedge formed before the breakout of the black parallel channel. It almost perfectly broke out and confirmed together. After the breakout XRPUSD formed another symmetrical triangle, which you can see in black on my chart. This triangle is about to confirm now.

The target zone of the big green triangle is at 0.57 - 0.58 USD but there are several other factors which make it highly possible for XRPUSD to rise higher, at least to 0.9 USD (target of the parallel channel with price projection). From there we can get a pullback to the 0.735 - 0.74 USD range which you see in my chart. There are two ways after this pull-back, XRP can fall down and reverse the bullish trend or it will continue the uptrend to the 61.8 % retracement (you see it in blue on my chart). A LONG position can be opened in the 0.46 - 0.47 range with aggressive entry (stop-loss at 0.4 - 0.41), a conservative approach would be to wait until some green bullish candles confirm a further uptrend. Always wait for confirmation to come! Patience is a must-have in the mindset of a good trader!

While other coins are in strong uptrends, XRPUSD has definitely some more potential to rise. You can see it crearly in my chart. There are some other fundamental news which confirming bullish price actions for XRPUSD, normally i dont trade fundamental news. I use my technical indicators to observe further price actions. But this partnership with Moneygram is definitely an interesting story and a factor to look at.

Thanks everybody for watching my chart, i hope everybody enjoyed this analysis i am here to provide you with the best information possible! Of course this is just a evaluation of the current market situation and this evaluation should not be used to buy or sell, only for educational purposes! BIG SHOUTOUT to the crypto community!

Peace and love to everybody! Have a nice day and week, thank you!

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