FreeDG

FreeDG

Printing a hammer today, but it's happened before on this downward push. Will it be the turning point? Will have to wait and see. We do have some support around this level from July and August. I wouldn't be getting back in here just yet. If you've ridden this down, I'm so sorry!

FreeDG

This seems pretty textbook to me. I'm told the target is at least the start of the wedge, so either short if you're game, exit longs, or wait on the sidelines to enter. Good luck and happy trading!

FreeDG

This looks remarkably like a bearish triangle. Lower support is around 41.7 and the high is around 44.7. If it breaks, we'd be looking at a target of 44.4-41.8: 2.6c below 41.8 - 39.2c, and appears to be going to happen within the next 12 hours. Note I'm bullish on XRP long term, I love that they're working WITH the establishment, not trying to circumvent it like...

FreeDG

This current price action looks to me like a flag - target would be 40c

FreeDG

Looking at the daily chart, we hit resistance around the current 87c level late Feb early Mar, now we're back at that point again. Price has also hit this level from the top multiple times making it a strong support level. Now we're coming from below that level, and given the relatively low volume right now, I'm thinking we might bounce off it as resistance and...

FreeDG

Depending on how you see it, this could be an inverted cup and handle, or a full head and shoulders (but with a very large left shoulder!) Based on the price action after the cup, we'd be looking at a drop to around 78c. In fact looking further back to mid December, 75c was a sticking point, so that could be closer to the mark for this next drop. Also...

FreeDG

I don't know if this is even a thing! But the current price action does seem to fit very nicely in this inverted curve. If it continues down to the start of the curve, we're looking at mid 66c in 3 days time. Either way, I certainly wouldn't be placing any long trades right now until we see how low this current correction goes.

FreeDG

Fib retracement from recent high of 1420 to low of 761.61 shows latest price action bounced off 0.382 level. Looks to be trading in channel as per chart. Long tails on recent low shows bulls took charge when price dropped. My only concern is the low volume on the green candles indicating maybe bears will overwhelm the attempt to push through the 0.5 fib...

FreeDG

Retraced down past the 50% fib level, now looks to be coming back up. Next resistance would be around 1180. Got close to that on 21 Jan. Wait and see if it pushes through that level this time. Could be tough though at the moment with all coins bar ETH in a definite downtrend.

FreeDG

Certainly not saying you should jump in until there's confirmation, but it's interesting to see that the price has jumped back to 1.76 and .87, both line on the fib retracement from .21 up to 3.31 being that big run up starting in December.

FreeDG

This seems like a classic breakout. The 200EMA will now act as support. Possible pull back to 11840ish, then onwards and upwards

FreeDG Updated 

I've put a stop at 1.49 at that seems to be just below the current floor of this short consolidation between 1.50 and 1.75ish. Still going off the fib retracement from 3.30 down to .8

FreeDG

Looking at the fib retracement from the high of 3.30 to low of .8, 1.44 seems to be the next level to pass, which it's currently testing. If it can break that, 1.80 would be the next target. I currently have a stop at 1.29 as if it breaks below that 1.30 level as I'm unsure how far back towards the .87 mark it could go.

FreeDG

Just in the short term, XRPUSD looks to be moving slowly towards the upper bound. Waiting to see which way it breaks out of this sideways movement

FreeDG

I see a symmetrical triangle and we appear to just broken out on the upside