First, this is not a trading idea, basically because I am not giving any stop and targets YET.
Second, even though the shape doesn't look promising, I expect BTC to fall down hard one more time and then we may see it pushing upwards. So I expect XRP to move similar. First, I expect it to bleed slowly.
This is just the levels which I would buy $XRP.
Again XRP did a deep retrace after a impulse up. Why the retrace is so deep once again in the mid of so much bullish momentum is hard to tell, but probably some kind of manipulation by big players is the reason.
With rsi showing oversold condition with bullish divergence on daily charts, its very hard to see the trendline broken, unless market as a whole...
XRP is showing an interesting fractal IMO. 3 wave down movement is followed by corrective move up before a hammer candle appears which results in new bull run. My take would be $1 XRP in the next month, followed by dump under 20 cents, then blast off to all time highs.
XRP has printed an interesting fractal. It looks like were going to continue to test 0.30-0.34 cents, where XRP is very stable, until we either break up or down out of the triangle continuation pattern. This similarities in movement are pretty staggering when represented by the various shapes. We can only expect the pattern to continue based on the available chart...
I'm not a fan of fractals that move across the channels in the same manner, it makes me feel like there is something wrong, since according to Elliot Wave theory, there should be an alternation that happens, and would not support such a similar price action, but nonetheless, here it is.
I must admit, some of the movements are eerily the same.
If this fractal...
Welcome to this updated analysis on XRPUSD Let's get right to it!
As you can see that XRP's are bringing users to review this coin from what I expect it's starting to recover a bit it may go down for a bit but it could also go up any day. If things or if XRPUSD could maintain it's on the support line at around 0.33013 it could give us a positive review.
This is our “Every-Monday” report on RIPPLE with a full vision over 3 timeframes.
4H CHART EXPLANATION:
- Price broke the Ascending Trendline and then pullbacked it.
- We have identified a 12345 Elliot Count and price is now on an ABC Elliot Structure, developing a potential C movement towards the previous resistance zone.
- Bullish Divergence on MACD.
XRP has a butterfly pattern vs USD
as you see in the chart, we have 3 supports
better to buy between 0.2686 - 0.2753 and set SL for close powerful daily red candle lower than 0.265 with low % loss
this issue may just be a game changer when
packager and sponsor settles allocation among strong hands
with huge supply currently in custody this can re vert to all time highs
for now BUILD a POSITION at CAPITULATION LEVELS
Reasons for open position:
- sell zone is 0.3317-0.3221
- trade by trend (short)
Stop above 0.3317
Take profit 1/2 (0.3173) and higher, depends on your greed
If you like idea, please push like and subscribe, it motivates me to post ideas more often.