if you are following me, you know we have been long on Ripple since the 30-33 cent area. We can see that this weekly trendline has held up nicely and we are getting a move off of it. We have broken this red trend line and are now heading to this next resistance area at 45-50 cents. There was a chance that we could form a bear flag, but that is out the window with the break of this channel to the upside.
While the MACD and RSI aren't telling us much on the Daily chart, if we utilize the weekly chart to look at a larger picture, we can see that MACD looks ready to cross. While not quite there yet, if we get a solid move and break this larger gold trendline, a move to $1 will very much be in play. If we can go into full bull run mode over the next 3 months, don't be surprised if we see $3 again. Ripple has had some major announcements which pushed it higher and continue to push it higher as it develops it's infrastructure.
Bottom line, watch this gold trend line I have on my chart at this 50 cent area. If this breaks, we will get a huge move to the upside.
Happy hodling,
-Sherem
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ripple is moving fast, already hit this 50 cent area and hitting our trendline.
Wow! What a move! We are going to $1 at least now with that type of buying power.
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I expect it will stall and have some type of retrace before we get there. But $1 is the next target. If we keep this kind of momentum up, it will blow through that level even. We might not even need to sell at $1 and can hold until 2 or 3, maybe higher? we'll have to see how it reacts as we push higher.
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Folks, if you are looking to get in Ripple for a larger move up, look to get in just above 50 cents, possibly around 48-49. This area should hold for a greater move up now that ETH has broken up, as long as BTC breaks it will really propel ripple up. Just be mindful of where your stop loss in case it doesn't and remember that we are long from the 30-33 cent area.
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See comment above, that 48-49 entry was great. We'll be going higher. I am still holding
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Check out this weekly MACD cross. If we get some solid movement, we could be going much higher than $1.
Big trap, buy ripple now and take a risk that is not worth it WARNING!
Sherem
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@VladimirBashovski, We have been long since 30-33 cents, so we are good no matter what happens. I will NOT be selling yet.
VladimirBashovski
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@Sherem, happy to hear, but not much people will win while buying this bounce.
Sherem
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@VladimirBashovski, You could have bought it at 30 cents and almost doubled up, or right when I posted at 40 cents and you would still be up 5-10 cents right now. If we are going to continue to push up, we will consolidate at these levels before another move up
VladimirBashovski
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@Sherem, Thank you for you message but i will avoid such risk cause it’s not worth it but i wish you good luck.