Looks to be entering the spring component of the Wyckoff Accumulation Schematic #1. I have started scaling into a position here with Targets/Resistances Highlighted.
Starting to scale in to a position here and around the $160 mark. Will take Profit at $280 and look to re-enter with final targets close to $700.
Looking for a daily hammer close. Sweep the lows and then reverse, times well with BTC consolidating here.
If you hate money, don't buy XRP.
Bulls need a successful retest and then some follow through to remain bullish on XRP here. Or else there will be once more chance to load up at ~ $0.385
See you on the other side of $1.12 which is where a re-assessment will be made.
XRP looking very bearish on the inverse chart.
Nothing to see here, see you on the other side of $6,000. (this is only if price breaks and closes below the previous swing high i.e. the top blue line).
Local Top on BTC giving space for ALTs to make some bullish moves. XRP is above moving averages which have proven to be resistance for more than 3 months. This is significant.
Will BTC consolidation give space for XRP to run or will it bring everything down with it. The latter will likely take XRP back into the demand zone one last time before we see ~$0.80
Buy signal if XRP trades and closes above 50 day Moving Average. All Targets must be achieved.
With the limited supply, and assuming BTC can steal a fraction of the market share of GOLD, 100k is not out of the question. There is not even the need for mass adoption as a currency, which is just involves too much speculation at this point.
I would not be surprised by a move like this in the least. Could happen a lot slower but this is CRYPTO, ALTs fly at the hint of a Bull Market (Especially XRP).
After breaking significant long term resistance, XRP is consolidating and painting a bullish pennant which is a continuation pattern. Given a break to the upside, ~$0.60 is the next logical Target. Although I am cautious as BTC seems to be running out of steam, which could tank XRPUSD or give XRPBTC some space to recover.
When it hits the buy zone, what do we do? Fill out HOLO bags.
Hopefully some lower bids get hit. Although it could break up from this pennant without hitting lower channel support, however it does not feel like the buy pressure is there.
After the impulsive breakout (supported with volume), this wave 2 retracement provides the perfect opportunity for re-entry. Looking to scale out at the completion of Waves 3 & 5.