correction to lower fib level or the 61.8 is a good buy in for ripple.
If you look at coinmarketcap Ripple was up 30% while bitcoin was up only 7 % at this moment. Ripple is still and will always be a very strong coin to invest in. I know many hardcore crypto supporters argue over the fact that ripple is a bankerscoin. But my advise to every new investor is to...
XRP has retested its 78% retracement today and bounced again. It is now in an uptrend going up to the downtrend from that major retracement.
We want a break of that downtrend, around ~1.2 EUR to see further upside to 1.7 EUR.
currently the "stop and reverse" (dots) shows stength, the MACD is showing uptrend and we are at the top of the boilinger band.
Looking...
Ripple/EUR reached it's downwards target: 50% of the original consolidation.
See how volume swells on lower prices (buying back shorts and buying longs).
Continuation of uptrend may take a while, but i expect Ripple to bottom out now it has reached the initial accumulation-level.
After tremendous bullish run, Ripple entered correction phase and formed another Wolfe-wave.
Really high stopping volume at points 3 and 5 are confirming the validity of the pattern.
It is possible that the price will retest the recent low and will form double point 5 or even get to the indicated support line. If this is the case, it'll form another wave which...
This pattern shows up on both XRPUSD and XRPEUR 11.80% the completion with good reaction at the $1.62 shows that profit taking has nearly all but ended and new money is slowing again entering the market.
Price should begin to retest $2.50 and a bullish brakeout above that.
I painted a more optimistic path but as you can see the last weeks could be seen as big h&s and it could likely fall to 0,80 or even lower. If you look closely you can also recognize that if we have a optimistic path in short term to the purple B the C has to end around the 61,8 fib zone (better would be around the green support line) ... otherwise the purple...
XRP has been retracing a bit after a nice bullish run.
For a change I have made this XRP/EUR chart because XRP gets traded against more and more fiat pairs, as well as other cryptocurrencies.
Maybe also my European XRP followers are waiting for this update. As everybody normally shares the USD or BTC chart of XRP.
We can see a clear retest of 1.60 from where new...
Big confusion today.
One: A Trendline was broken and XRP crashed. XRP could go back to the broken trendline and fall again.
Second: XRP is forming a bullish Flag.
Just an attempt to count Elliott Waves for XRPEUR from 2017-12-12 to 2018-01-06.
If wave 5 of the minor wave (the bold cyan one here) is correct a minor correction scheme (purple ABC) should follow before we move up again with the next impulse wave (purple 12345, which time range I made shorter in order to make sure you can recognize the wave counting better).
Anyone who followed XRP since a couple of month can recognised that pattern and know how it ends up... Hopefully that symmetrical triangle will show us another nice bull run.
Short term XRP trade. Target 3.3 EUR (thats passed 4 USD by a couple of cents) , which has already been reached last week on a couple of Asian Exchanges.
I love XRP an i am hodling it for a long time now. I tkink that we can see further correction after next small wave up.
I thinkig to close all my long positions on that jump.
Be careful!
Br
XRP is still strong as no fundamental information has changed (technologically useful for banks, used by credit companies, rumors about entering Coinbase).
As we have seen in the previous movements the correction went between 61,8 - 50 % fibonacci. Then a little consolidation sidewards before the next upward movement begins.
In my chart you can see the fibonacci...
