XRP has been a laggard in this recent market, however this has also been true of previous market cycles where everything but xrp seems to moon. But then, out of nowhere....boom, absolute jizz fest.
So given previous history, XRP fan boys may finally have something to be happy about.
Price is forming long term ascending triangle pattern outlined in...
It can't be denied that the fundamentals form Ripple (the company) are highly positive at the moment (OnePay FX, Moenytap, etc) but with the XRapid / Swell FOMO well and truly over, we now wait and see if actual utility use of Xrapid can provide the impetus needed to drive the price of XRP higher.
I believe this indecision is reflected in the charts:
Bitcoin in the final stages of impulse wave 5 correction.
Taking a fib over the entire move upwards from mid September, we can see that the elliot wave pattern has pretty much hit each retracement level on the way down:
Point 1 = 0.382
Point 3 = 0.618
Point 4 = 0.5
Point 5 = ???
Point 5 coincidentally matches up with the 0.786 retracement level.
We can see a long term baseline of support on the 4 hour chart which successfully held after a 50% drop on the entire move.
After the bounce, we have hugged the first support level at 1.93 range, which has been a significant support level previously.
I expect the price to consolidate between the rising baseline and upper support level in the (1.78 - 1.95...
From it's all time high of 2182 satoshis, DGB has lost over 90% of its value... that's a HUGE correction...
However, DGB broke our long term downward trendline and has now found support on the daily.
At present we are consolidating into a descending wedge, currently ranging between 108 & 129 satoshis.
Coin is unbelievably cheap, undervalued, and looks...
Had a nice pull back from previous high at 41000 satoshis and looks to be forming a rough pennant / bull flag.
MACD also shows nice bullish crossover.
If recent events with bitcoin take a bearish trend as is expected, we could see NAV take a run on the previous highs.
One to watch.
Further to today's events, we are still holding the ascending triangle well, although slight corrections have been added in the prediction for increased volatility following todays news.
It remains to be seen what effect the cancellation of Segwit2x can have on the chart, however the analysis would suggest that a correction is imminent within the next 3 - 4 days...
Speculative only - not advice.
Clear ascending triangle formation with climax post S2X - Expected that we will touch and briefly break $8K within the next week, followed by substantial sell off as per previous major resistance levels at $3K & $5K.
Previous resistance should form new support so expectation would be a return to the $5 - $5.5K levels...