kyer
Long

$XRP Long Term Analysis - $8 by EOY

BITSTAMP:XRPUSD   XRP / U.S. Dollar
Weekly Levels = Purple
Monthly Levels = White

XRP moves a bit different than BTC , ETH, LTC, etc.. It is a coin that moves in silence and just when everyone thinks its dead, it has parabolic rises of over 1000% within a month or so.

As you can see here on the Weekly XRP chart, the 1st wedge consolidated from April-Dec in 2017. Roughly 10 months. From there we saw an early breakout of the wedge to a 1400% gain in 28 days.

Now in April 2018, a year later, we saw the start of the new move. The 2nd consolidating wedge before a crazy parabolic rise. According to the chart, XRP has been holding this wedge to a T and we should expect a breakout sometime in early Oct.

The XRP/BTC chart, which I will link later, is also due for a breakout middle Sept. - early Oct. The FED and the President of the United States are talking about cryptocurrencies, Ripple just partnered with MoneyGram and is trying to gain control over the Indian Banking Sector as we speak. We should see an influx of very bullish news in the fall as more and more banks go on record and state they are partnered with Ripple using xRapid technology and XRP.

This 2nd wedge is a little over twice the length of the 1st, 231 days as opposed to 518, meaning we should see about twice the % gain as the 1st move up.

Think of it as a slingshot, the farther and longer you pull back, the higher and more explosive your shot will become.

Price target is $8 by EOY.
Trade active: 10k entry @ 0.31
Highly unlikely, seems like the only crypto that has a chance of gaining is Bitcoin. Ripple, even with MoneyGram adoption still hasn't increased in price. In fact, it fell drastically to $0.22 this week. That's a very significant sell off. A price of $0.20 seems more reasonable
+1 Reply
Look at the overall health of the Alt Coin market before making a decision.

+2 Reply
FUD galore on this drop on all these charts, bears can get rekt more easily than longs
+4 Reply
WGauger tradetraderson
@tradetraderson, I feel like it’s been nothing but FUD since BTC hit its ATH this year.
Reply
sturdy1985 WGauger
@WGauger, BTC didnt hit its ATH this year. The ATH (all time high) was at 20k. What you are talking about is YTDH (year to date high)
Reply
Maximum delusion, do not trade his charts people.
+1 Reply
Idea invalidated, we broke the second wedge to the downside, going lower. The last time we had a Bear Market in Crypto, before 2018, was in 2014, when we went sideways for 2 years and 3 months in this coin before another mayor rally in April 2017. If that fractal repeats itself, we may not see the protected big move until April 2021. Probably not before we reach new all time highs in Bitcoin. So Definitely a sell, also long term, more than a year. Sell, sell, sell.
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