ChartTrader888
Long

RIPPLE XRP - Market Progression - LONG

BITSTAMP:XRPUSD   XRP / U.S. Dollar
Ripple has made 2 breakouts from structure and is on it's way to perform the first part of a wave 1 impulse wave.
Through wave one we should see 3 impulses in total and 2 consolidations/corrections.
See my previous analysis back on the 14th of March 2018 (almost 7 months ago).


Although current pricing, to some inexperienced amateurs, may seem like it is reversing... it is not !
The pricing is still within the consolidation zone, as I've marked on the chart. You can see the current price (at the time of writing) is still 8 cents above the low. The level count on this current move is Level 1, and should confirm this once the high is broken, possibly within the next 1 to 3 days.

'TDI' (Traders Dynamic Index) shows that the 'RSI' ( Relative Strength Index ) is currently at 59 and is close to the center of the bands, where I'm expecting it to bounce again for the next move to Level 2 and Level 3, before the first correction as Elliot wave 2 begins, at around $1.40. Sure it could be lower and it could be higher.

Most likely when Level 1 confirms (means it will break the previous high), it will be a bigger move than from Level 3 'PFL' (Peak Formation Low) to the previous high, thus passing the 80 cents mark. Patience is a virtue as well as removal of emotion, especially in trading. Let the market play out, don't listen to FUD, there are a lot of XRP/Ripple haters out there, I don't understand why, especially if the coin can make you money.

XRP is the only coin, thus far, to have a solid company behind it, has been in development longer than BTC and has a solid business model with contracts signed and already customers using the technology. It costs peanuts to transfer XRP, unlike BTC or any other coin, XRP is faster transfer than BTC and has a real world use, currently with several banks, many more coming online daily, which will ultimately help push daily volume into the trillions. XRP currently has 2nd place in coinmarketcap and I am expecting it to increase even more to eventually take over 1st place. Binance.com has reported yesterday, that XRP volume has surpassed BTC volume , therefore it is only a matter of time until XRP will be the number one coin with the biggest market cap. It will make holders of XRP a huge amount of money, what could be bad about that.
Don't be an amateur, be a professional, look at the charts, understand the charts and act accordingly.

Obviously, nobody can tell the future and trading is a game of probability based on previous structure, fibonacci measurements, experience etc...
Sure anyone can disagree with my analysis, but don't just say you disagree, show me your analysis. However don't be surprised if I don't reply, I'm not interested in debating with people, because it seems Teamviewer is full of trolls and altcoin fanboys who treat trading and crypto coins like barracking for football teams. I'm a professional full time trader, I live from trading, I make money from trading. I don't care about the name of a coin or currency pair, I just care about making money, and I make a lot of it because I know what I'm doing.

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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.

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You're not using logarithmic chart
+2 Reply
If you have time I have one more question: Is it possible that in the crypto space that XRP has exited the bear trend before others (based on its real world use factor)? is it possible that it can excel even if BTC is ailing?
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@omnirealm, Soon due to the volume that will pass through ripplenet, you will see XRP go to number one on marketcap.
The price, well in my opinion it will surpass way past the $589 mark. A really good thread that I've read in the past explains this very well, I will try and see if I can find a link to it and paste it here in the reply for you.
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omnirealm ChartTrader888
@ChartTrader888, really appreciate it
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Thank you very much indeed sir for your response it is highly appreciated
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This makes a great deal of sense many thanks. At what price point do you estimate Wave 1 will actually begin?
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@omnirealm, Wave 1 has already begun, it is shown at the start of the purple line drawn on the chart. It is when it broke the first structure point.
Its going to be a really crazy rise, because I've been very conservative in doing this analysis. It is totally based on market sentiment but WITHOUT ripplenet going live. Since ripplenet has gone live, from yesterday's announcement at SWELL, things are about to change due to many announcements coming in from partnering banks. Here is one new announcement that is quite significant.
https://ripplecoinnews.com/90-billion-santander-bank-to-use-xrp-after-partnering-with-ripple-labs
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