hey guys welcome to Ripple XRP long term update, now whether you hate xrp or love xrp it doesn't matter, everyone is here to make money by taking right investing decisions, as a chartist i dont care abt the tech, majority opinion or any type of fundamentals, the only thing that matters most from me is what the chart is saying to me and that's what i share with, totally unbiased with only stats.
so now lets move ahead, now the top chart says almost everything to you, and if you are a long term xrp holder than you carefully need to see this that right now prices are floating on a critical level of fib382, previously in 2018 prices gained support from this level and we see huge spike in prices with almost 200% of growth and after one year prices have came back to test this support, so unless we see any huge rally from this level and a break above 0.3$ level its better that we stay neutral and let the price give confirmation signal.
now we have already completed the 5 wave elliot cycle and right now we are moving in ABC corrective wave, and here we have developed a triangular formation the descending triangular formation which is developed right now has always been associated with lots of contradictions, coz this patterns could breakout either any side, thats why you need to have patience to wait for price confirmation and then make a descision,
you can see that fib382 around 0.25 has worked as a perfect support level from more than a year and still bulls are strongly defending this support level, but things will remain critical unless we see a huge spike in prices and volume from here.
the very first major resistance for XRP is 21 weekly EMA sitting at 0.3 level break and weekly close above this level will surely confirm the next rally.
my custom rsi in weekly chart shows continuity of downtrend in prices, as we we are moving from light green zone to dark one's chances are getting higher for a bigger drop.
now here i wont make any prediction unless i see prices confirm itself, i leave it to you, for me this will be too quick to make any huge prediction. i think if prices breaks the upper resistance from here than 0.7$ level could be most likely short term top for this rally, but if we break fib382 support and made a weekly close below it than 0.12 could be the next bottom completing ABC corrective wave. meanwhile if we see this complete 5 wave formation as wave 1 than wave 2 could likely end at fib50 to fib618, all we need is to wait and watch...
alright guys, that's all for now hope this idea will help you to make huge huge profits like the previous one's ;), dont forget to hit like and support us so we keep bringing awesome new trading ideas for you, follow us for more future updates, and do comment your opinion, we appreciate your response:) and to join our premium contact me on telegram, recently we've made some really great profits with alts as well as leverage trading, and we're going the increase premium fee in the coming days, so hurry up...
Great job as always, btw can you update, or make a comment if it break out upwards, because im a bit new here. Thank you! :)
Husain_Arkghazi
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@whentimecome, sure will definitely publish a new idea once i get the confirmation
josque
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Liked it... as always, I fine a silver lining between the last wave at XRP and ETHBTC, do you think it possible?
By my analysis we are facing downwards... share with my your insights:
BigBuxTrading
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my opinion.... going up - way up.... 2x within 60 days.... time will tell....
Husain_Arkghazi
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@sdubyag, i do hope so, our aim is to make money doesn't matter whether am right or wrong
UnknownUnicorn5678091
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Husain_Arkghazi
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@Alien_Vision, nice one, but we need to see huge buying from this level and break 0.3 level 21ema resistance with a weekly close tham we're all set for a huge rally
tradesetups
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@Husain_Zabir, it's always interesting to see others' observations. I like to test against my own views and try to find holes where I may have missed something. From a monthly perspective, here are some things I noticed. Of course, much of the method I utilize is used in FX where access to an inter-bank feed is hard to come - giving more importance to opens and closes and not so much wicks :-)