We dropped the last support I had used, but see that we're making higher lows and lower highs- and that consolidation is suggesting there could be a breakout. One concern for me is that the daily stock is overbought- but the weekly stoch is strongly oversold. Should we break the red resistance pictured, we could see a solid bounce- which would be a mirror inverse...
Will be interested to see if XRP can break a short term bearish resistance- if so, we could see a significant movement upwards which would also be a mirror image reversal of the past couple weeks of price action, looking like a reverse head & shoulders. If this move fails, I expect to see a drop back to .46
Pretty self-explanatory. I see a potential reverse H&S on XRP. Could lead to a larger rally as XRP is coming from an oversold position on daily as well as still oversold on weekly.
We've been in a large pennant formation for quite some time. The main question most of us have is whether it will break out bullish or bearish- strong cases can be made for both. Because XRP is so tied to Bitcoin, if Bitcoin continues its bearish trend (south of the purple line in the linked BTC idea), will it also pull XRP down? XRP is coming up against a very...
Decision time for Bitcoin coming up soon. Will it break bullish or bearish?
We learned today that Bitcoin and XRP continue to be intrinsically linked. That said, I see a triangle forming on the daily that has a great opportunity to break bullish, following a long standing trendline dating back to early 2017, as noted in the attached idea.
We're channeling within a little pennant. I'm not intending to sell at this target, but if someone were to day trade this, I wouldn't blame them. I see the big breakout happening towards the end of the month, but this move is staring me in the face, and I'd be remiss to not say anything. The one flank I see is that Bitcoin is dropping, and XRP could follow. We'll see.
Pretty straightforward. Looking for large bullish breakout over next 2 weeks on XRP.
On a logarithmic scale, Bitcoin is terribly overbought, and has been for quite some time. Considering how many other coins exist that offer more utility and faster speed, how will Bitcoin maintain it's hold on the market? Name recognition alone?
XRP has had a remarkable 2017, and if the same trend continues, will have an amazing 2018 as well. This is a logarithmic view of the historical data of XRP, and each of the larger parabolic increases have yielded 14x growth. Additionally, the black support has been a catalyst to start the move. Depending on where the price starting point is of the next parabolic...
The chart pictured here is the hourly chart- however on a larger scale, the daily timeframe stochastic is oversold, and the MACD is turning bullish. Very interesting. On the hourly, I see a trendline alignment happening on March 1st, which I believe will determine the next wave of movement for XRP. My inclination says bullish, but I'm a long term holder, and am...
This theory is based on 3 observations: 1) In previous boom/bust scenarios, we've seen price action go from the run up of a boom (most recent example, $.23) to 13x - 15x of that low (most recent example 3.20). Similarly, if the "low" of the current period is between $.85 - $1, I see a similar pattern forming. 2) In previous patterns, a fan line has been created...
Are we entering into another parabolic bullish phase? Will we see $10 by the end of February? Maybe- maybe not. However- I will state that the bearish move concluding the amazing growth we saw in December & January has come to an end. The trends of red bearish sentiment on my chart have all been broken, and we are moving sideways for the foreseeable future,...
Bears have had their fun. We're coming up against a strong line of support, and we're hugging the line. The market can't wait to have the green light to move upwards. I'm hesitant to include a target because I think it could be a long sustained bull market. The hourly stoch is currently overbought, so I do see us dipping a little bit before the real breakout...
I'm long term bullish on XRP, but have some concern that we might not be out of the mud just yet. Could see a smaller H&S pattern developing on the 15m, which might bring us back down to $1. Hope I'm wrong. If we break 1.53, we could meet up with previous bearish trendline.
SlowK is a great way of measuring momentum- and when moves are exhausted. Daily SlowK is oversold at this point for the first time since the move in early December began. When you consider the fact that we're bumping into a strong upwards trend, I expect Bears to not withstand the buying power that will come into the market over the next week, and a new buying...
My previous analysis isn't looking so bad anymore! MoneyGram gave XRP a lease on life. We looked certain to collapse after dipping off of the long standing bullish trendline last night, MoneyGram news bolstered XRP and pushed us back into that bullish trendline. This also serves as a reminder that there are many new big announcements coming, and much of the sell...
Well, the last bit of analysis wasn't perfect. I did however nail the pivot point- price action just went a different way. Coinbase's announcement and CMC's omission of Korean data influenced it, but ultimately the market wasn't ready for another big push upwards. Fundamentally, Ripple is extremely promising, and XRP is fundamental to companies' success that...