Algo,seems to fit Elliot Wave theory. Not my area of expertise but trying to get to grips with the nuances of it.
Trying to use the correction wave to understand next likely peaks and troughs. Any feedback welcome.
Currently trying to find a decent entry point to to XRP for a ride up to 0.38 for HODL. VERY QUICK analysis
Following previous ideas of Wykoff accumulation, and recent breakout of pennant and trend, I'm guessing there will be a continued move to previous levels of 0.4ish.
target bounce and subsequent buy zones marked in red with a best guess on trend...
I'm not an expert in Wycoff but this feels very much like a slow accumulation and shakeout.
I'm working on the basis of Fib timezones which seem to fit nicely in the current pattern , suggesting a few more days of accumulation to follow. This would mirror previous long accumulations seen on XRP.
I expect to see a <$0.2 jump to circa $0.35, and then onwards,...
Rudimentary at best. just seeing where this goes as I remain bullish on XRP but will only load up at a sub $0.2 levels, preferably $0.17-0.18
With the BTC drop were seeing a direct impact on ALT volumes.
I remain Bullish but think we will see a further drop, likely drop off with news of the SEC FUD and year end see off from US citizens for TAX. I think as institutional investment picks up in the new year and American retail picks up we'll see a lift in price. Coupled with the fact that a significant proportion of XRP usage and interest is -Ex-USA (there are lands...
XRP within miicro and macro bullish tirangles, with fib support.
Secondary fib for the micro timescale and the bullish triangle added - unconventional however seems to suggest some clear resistance and support zones which the current trend seem to be fitting.
A bit bes guess however given the long consolidation I would expect to potentially see a rise to wards...