XRP is at a crucial juncture. If it breaks below the lower trend line it will be an utter disaster going possibly as low as .16 - .23 cent range. If it gains momentum it could easily run to the upper trend line range in the 1.19 range. If it breaks that then hold on tight!
Once XRP breaks out of the descending wedge pattern there are many levels at play to breakout beyond the $2 level, but once it does 'the sky is the limit.'
XRP is setting up perfectly for a decline, then bouncing off the bottom of the descending wedge trend-line that has been in play since 2020.
Although I am labelling Wave E as a 1-2 1-2 scenario, we could quite easily be in Wave 4 and Wave 5 down could be extreme. Regardless of that, I try and give some context as to what is going on at the small degree in case you were wondering. When XRP and XLM both end up at dirt cheap levels I will indeed be buying both. For now, I just see ongoing corrections...
Since the summer, we have remained relatively bearish on XRP while later warning about the unsustainable rally right at its beginning. Then, as if it was not enough, we also set a medium-term price target of 0.30$ on 8th September 2022, which we updated to a short-term price target on 30th October 2022. This was quickly followed by the token dropping from 0.45$...
In our previous post, we briefly discussed the relationship between the XRP’s price and market cap. Furthermore, we compared their various valuations to the equity market capitalization encompassing 59 400 companies listed on the World of Exchanges. Then, we said that we would like to see the price fail to break above the 50-day SMA in order to support our bearish...
For the past few days, we did not give many thoughts to XRP as it continued to be choppy between 0.38$ and 0.42$. As a result, we abandoned our price targets in the previous article and introduced a setup for their re-activation. Since then, we have waited patiently for more signs of weakness to confirm our previous assessment about the unsustainable rally. In...
We continue to be bearish on XRPUSD and maintain our short-term price target (0.30$) and medium-term price target (0.28$). Our view is based on a combination of fundamental and technical factors. Overall, our assessment is very similar to our latest post on BTCUSD; we believe the cryptocurrency market has not bottomed out yet and has a long way to go before...
In a wild route, XRP fell more than 27% yesterday (down approximately 40% from the recent top). On its way down, it broke below significant support levels and fulfilled our prophecies about the unsustainable rally. The price made a new low at 0.33604$ before reversing above 0.40$ and back to the 0.36$ handle. We remain bearish and maintain our short-term (0.30$)...
Merely a few hours after our warning, the price of XRPUSD fell more than 10% before recovering some of its losses. Interestingly, the price halted its decline slightly above the short-term support. Therefore, we speculate the price might end up trading within the wide range for an extended period; unless a breakout below the short-term support takes place and...
Four days ago, we warned that the Ripple cryptocurrency would attempt to test its low from 13th October 2022. Shortly after, the XRPUSD fell approximately 7.5% toward the mentioned low. However, it did not manage to break below it. Instead, it paused its decline slightly above it and reversed back up. Therefore, we will continue to pay close attention to this...
In our previous posts on the Ripple cryptocurrency, we pointed out the bullish breakout from the symmetrical triangle and signs of exhaustion accompanying this price action. In addition to that, we outlined a part of the legal case between the SEC and Ripple Labs, Inc., debunked a myth about the market-cap capabilities, and described an ongoing behavior in the...
Today, we would like to update our thoughts on the Ripple cryptocurrency. We continue to notice signs of exhaustion from the technical perspective. At the moment, we closely watch the symmetrical triangle on the daily chart of XRPUSD. The recent breakout from the pattern is bullish. However, we have no reason to change our bearish bias on Ripple. As we noted...
A brief history In 2004, a few years before the introduction of the white paper and Bitcoin by Satoshi Nakamoto, Ryan Fugger conceived the idea now known as Ripple. Initially, Ripple was not based on blockchain technology. The development of blockchain technology and its implementation within Ripple began in 2012 after Ryan Fugger handed over his project to Chris...
⚡️Hey guys! Wishing well as always. ⚡️Real quick here but we can see how XRP is basically looking and trying it's best right now to regain that wedge which it's start to exit from already and should this buying pressure keep up and meet that 200 EMA then that would be the exact thing that we would need to gain enough support and confidence to get more buy in's...
🔥Hey guys, wishing well as always. Giving you a quick Bitcoin Technical Analysis and just wanted to give this. We can see what happened once we lost at wedge in that encircled part falling out of it which incited that mountain fall and rapid sell off. 🔥We've hit that bottom new channel line and if there's ever a point of support to keep us above a line it's here,...
🔥Hey guys, just a quick post but this could possibly be Bitcoin's bounce point. Here's the minute chart below to demonstrate which show's what's going on alongside those support points. 🔥You can see those three points which we established and built up to form support at roughly $21,300 which is a short bit below our main marking that's right above it in the...
⚡️Hey guys, just making a quick post before I go to sleep, this may be the start of XRP's Rebound following this whole dramatic sell off we've been dealt the past few hours, I've attached the minute chart below which really shows just what you need to see and keeps things simple. ⚡️We can already see that we've bounced off our 0.338 support point and are...