After researching on some of the older XRP charts that no longer are available on tradingview i drew the 2013 peak based on backwards day calculation and connected it to the peak of 2017 with the fibonacci channel tool.
Many of the fib lines aligned perfectly with the trend. And therefore i see XRP going sideways until the end of 2020 and the 4 year cycle...
XRPBTC is clearly forming cup&handle which is strong bullish formation,most likely breakout from this formation lead into Golden Cross(Green => 50 MA , Red => 200 MA ),which can start big fat XRP rally.
Interesting formation on 30min. I think this is going to be the deciding factor if we keep moving up or move back down to green support. If we move up im looking at light blue resistance. Excited to see :)
We hit this point of resistance shown from yellow circles. Rsi went into overbought territory, which is correcting, and is ready to test again which i think we can make it. If we fall back down, we find support at .2600. More updates in a bit :)
This dip was necessary for XRP's next move up. XRP has spiked up aggressively in price 2 times already, pumping up for the third.
Both times the price has respected the trendlines on the way up, this time the whales have suppressed the price below the trend all the way down to the monthly.
I know it sounds wrong saying this on a day we're down 12%, but now price...
-Bullish divergeance, when extended line on price you see a perfect trendline
-Price above MA100 as strong support
-RSI reset and primed
-MACD reset and primed
moon? i think so. ATH in may or before.
-SBI exchange in japan, XRP only at launch, trading pairs with XRP
-Partnerships for XRAPID use (xrapid uses XRP but is in beta testing right now)