The bottom is reached

It looks like that Ripple has finished its ABCDE correction and is breaking long-term declining channel. First short-term target would be somewhere at 1.8$. If Ripple continues surging it will probably face some resistance somewhere around 2-2.30$. On a long-term Ripple might have resistance at 2.8$
If Ripple continues to surge as fast as it's surging now it could reach 1.8$ by the end of 18 Jan.
However, almost all major cryptos are following each other.

This is not financial advice.

Feedback and comments are greatly appreciated.
Comment: I will continue to update this if we get at least 5 likes.
Comment: 25 likes :O This is crazy, thank you! I will absolutely keep updating this!
Comment: ripple looks good, we might reach T1 in 12 hours. Remember that any bad news from South Korea or China can reverse the direction.
Comment: Still looking good, ripple is surging steadily and just bounced back from ~1.5 which is also 0.236 level at Fibonacci
Comment: We could reach 2$ in ~5 hours if surging stays stable.
Comment: Surging has slowed down so we might experience a dip.
Comment: Here is a little bit more information. 4 hour MACD is still open but 2 hour MACD is closing soon and giving us a sell signal. 4 hour RSI doesn't give us overbought signal which is also a good thing. On the other hand in a 15 minutes chart, there is forming a triangle which I will post here soon. If you are planning to buy Ripple I would wait and see if it breaks 1.75$ and buy then. Remember that EVERY trade is your OWN DECISION!
Comment: Everything is looking good, 2 and 4hour MACD is still open and they haven't give us sell signal. Ripple will trade in the triangle approximately 5-8 hours and will likely break up. In my opinion, there are few possibilities to buy at 1.52$ but setting stop loss isn't a bad idea.
Comment: It looks like Ripple is breaking up the triangle now, I will update this soon.
Comment: We still don't have certain confirmation about breaking triangle.
Comment: It's confirmed now, Ripple has broken the triangle
Comment: Okay, so Ripple has started to fall again and might test trendline where it should bounce off.
Comment: On a short-term ripple is likely going to fall to 1.48$
Comment: No breaking news, Ripple is struggling between 1.7 and 1.48$
Comment: I think Ripple is going to test long-term trend line as a support. See the chart which I posted on 19 Jan.
Comment: There are 3 possible ways for Ripple now. The red arrow is showing the worst one if we break the major support at 0.7$ then Ripple is likely going to go towards 0.55$.
The second option is double bottom and the third one is triple bottom
Comment: This may also affect and is probably caused the drop.
Comment: If we draw descending trend channel a little bit differently then Ripple is still in the channel.
Trade active: The stop is at 0.72$
Comment: FINALLY Ripple has broken the downtrend channel. Still, I would wait and see what happens. I will update this soon if something crucial happens.
Trade closed manually: Thank you very much for the support :) I think it's a good time to close this now. In my opinion, we are not going to reach 1.8$ very soon.
+1 Reply
Samppa290 joonhyungP
@joonhyungP, Thank you :)!
you do realize literally every coin just did this pattern do to a market correction
+1 Reply
Samppa290 supakawaiidesu
@supakawaiidesu, Yes xD, I have realized that a long long time ago...
dou you have new update sir thanks
Samppa290 ilkayozcelik
@ilkayozcelik, I just updated.
Thanks for the analysis. Keep us updated! My target is 2.0 but I'm expecting resistance at 1.73 and 1.8.
+1 Reply
Samppa290 CarlosMorillas
@CarlosMorillas, of course there will be at least a little bit resistance but I'm also pretty sure we will see Ripple at 2$ soon. :)
our new target is 1,80 than :)
Samppa290 ilkayozcelik
@ilkayozcelik, Yes, however, Ripple might face some resistance on its way there. We will soon see how fast ripple surges and then we can make some expectations when it will be at 1.8$. I also think that the trend channel on my latest update is too tight so I'm pretty sure it will break it in some direction.
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