StealPipsSal

XRP to $1+ very soon

Long
What's up guys! XRP looks like it's heating up for one of the biggest rallies we've seen in a while. My previous analysis took a little longer than I anticipated but my short term targets of 44 cents were absolute smashed! As you guys can see, most of the people who were scared out of XRP due to the SEC news have already been shaken out of the market and the sentiment on XRP has become very bullish. While there was a parabolic move upwards prior to the alleged XRP pump to be done on February first, the price action we are seeing now is indicative of a long term and much more sustainable bullish rally. We spiked to around 75 cents prior to the alleged and saw a sharp correction soon after. XRP was able to hold strong support around the 35-36 cents level and has since been trading above 40 cents and even reached a high of 64 cents. However, this time appears to be different than the attempted pump. We are creating higher highs and higher lows on the 1 and 4 hour timeframes. Seeing some pullbacks in this upward movement is key to understanding that there is a sustainable breakout that is imminent. On the daily timeframe, I have realized that XRP is on its way to complete a beautiful inverted head and shoulders pattern. I am expecting the market to complete the right shoulder at the zone around .45566. It is also a perfect .618 retracement to the golden zone from the previous swing low to the next swing high. After the completion of this pattern, I am expecting an explosive move to $1+ because once we break the zone of resistance from 75-78 cents, we're on a clear path to $1+. There has also been a lot of positive news circulating that ripple and the SEC may be getting closer to a resolution, and if this news comes out it will only magnify the bullish movement we are about to see on XRP. I already have my bags packed around the 20-30 cents range for my personal holdings of XRP and have open swing trades open from around 24-26 cents and 39-41 cents so I personally won't be making any more moves on the completion of this pattern, but it may be a great opportunity for anyone else looking to get into XRP for trades or personal holdings in general while it is still sub $1. I understand that XRP may even take off without completing this pattern fully, but I am just sharing my analysis on where I believe it is most likely to bounce off of. All I gotta say is strap up and get ready bois because we're going on a moon mission and definitely breaking all-time highs this market cycle!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.