jfrose

jfrose

What a bloodbath the past few weeks have been!!! I hope people are taking the opportunity to dollar cost average. Zooming out on the weekly using the Heikin Ashi chart price is just barely holding above the 0.786 fib support in the Fibonacci retracement. Will this support hold? We have 3 more days to find out... Two scenarios: 1) If it holds, it's a good place to...

jfrose

A couple of things to observe from the 2D chart; - XRPUSD has been making higher highs and higher lows - a sign that an uptrend is in play - Price got rejected twice at the 0.5 Fibonacci retracement level ($0.919). Could it be 3rd time lucky? - Price is currently trading sideways in the Golden pocket of the Fibonacci retracement (.618 - 0.65) but is bumping...

jfrose

The 200MA on the 1D & 2D chart has proven to be very tough to break even with comparatively high volumes. We have just lost support on the 1H chart and even broke below the 100MA. I believe we are now heading back to the .382 FIB ($0.815). Can XRP refuel at those levels, to be able to reattempt breaking the $0.85 resistance? Not investment advice. Kindly do your...

jfrose

If we close the day above the 200MA on the daily timeframe (currently at $0.84), I believe we will get our impulse move to the next major target which is $0.95. It's looking good! Not investment advice. Kindly do your own research

jfrose

I'm expecting another bounce off the 20MA on the 4H timeframe to take us above the Fibonacci golden pocket. So far the bounce has occurred twice after we have touched the 20MA and after RSI reached 50% goldilocks zone. The trend is still bullish and looking good for us to move to ~$0.87 and beyond. This is not investment advice. Kindly do your own...

jfrose

I don't normally do price predictions, but it's good to have some fun every once in a while... Fractal is taken from the 2 months starting 16th March 2021... One year ago... and just funny how all the fib levels match up. Hmmmm... Could it be?

jfrose

The weekly timeframe is pointing us upwards: 1. A massive symmetrical triangle that has been forming for almost a year, breaking out of which usually means a continuation of the pre-existing trend (in this case upwards, as this was the trend before we entered the wedge) 2. Hidden Bullish divergence, with Price action making higher lows, and oscillator (RSI) Lower...

jfrose

It definitely looks more of a retest rather than a fakeout, with descending trend line holding strongly as support. The price has now reached the point of convergence of the wedge and touching ascending trend line. If this holds as support, we are seeing a trend reversal on the 4H.

jfrose

On the 4 hourly, XRP broke out of the wedge that it has been forming since Early Feb 2022. Decisive moment. Are we witnessing a retest of the descending trend line for further upwards momentum or a fake-out? The next few hours are crucial. Trade safe and please do your own research.

jfrose

When bitcoin sneezes the entire crypto market catches a cold! For all the calm & collected traders out there, here is another nice little gem of a pattern... A Bull flag on the daily timeframe. Target $1.04... if we breakout upwards. Happy and safe trading! This is not investment advice, please do your own research. Feel free to follow me for regular updates.

jfrose

Over the last 3 days, we saw a perfect text-book inverse head & shoulders on the XRPUSD 1h chart. This was over a slightly descending/ almost horizontal neckline (right shoulder is lower than the left shoulder), and with a retest and rebound off the neckline to boot! Such a structure is a strong signal that we have left the bottom of the market, and are back to...

jfrose

A breakdown looks extremely imminent (on 1D timeframe) - MA20 and MA50 have converged and are crossing, which could result in a strong price impulse to the upside (likely towards the golden zone $1.04-1.07, before making its way to $1.35) - Incidentally, the price is also squeezing between the long-term descending trendline and the $0.80 fib support. - Stoch RSI...

jfrose

- After the significant impulse move, we made it above the 0.382 Fib in our retracement, and it is providing good support at the moment. - However, Stoch RSI is now looking over-cooked/ overbought on some higher timeframes - namely on the daily and 3-day charts, and a cooling-off period would be pretty welcome and healthy. - The cool-off could either be in the...

jfrose

A recurring pattern that keeps playing out on the 4H chart: - at 50% RSI, Massive selloff that takes price below both 50MA and 20MA - at RSI ~10%, strong pull-back to taking price back above 20MA and retest of 50MA - Rejection at 50MA & 50% RSI and price goes back down to re-test previous low - A period of re-accumulation, with RSI ranging around 50% mark - Strong...

jfrose

XRP continues to show major signs of weakness. Technical indicators, Regulatory roadblocks/ SEC lawsuit, Bitcoin & overall crypto-market performance, and FUD are all compounding to create short-term bearish sentiments. - RSI on 4H charts shows no momentum to the upside, and a possible reversal at the 50% towards the downside. Last this happened we dropped over...

jfrose

The entire crypto market is taking a beating, led by Bitcoin...Volatility and bloodbath are back, and in these times (which I'm sure is scary for some) it is best to zoom out to higher timeframes... Looking at the weekly chart: 1. We've witnessed a low-volume sell-off - could point to capitulation from weak long hands, and that would largely support the Fear &...

jfrose Updated 

Precariously close to the precipice. XRP has been quite respectful of Fibonacci channels, but here we are at the bottom of the channel. Any move to the downside with weekly closing below the channel would signal a change in long term trend into bear territory. A sideways break in the trend and drawn out accumulation is also a possibility... An upward movement,...

jfrose Updated 

Further reason why I'm very calm (and BULLISH!!!) with current price action. A nice descending wedge pattern is seen here on the 4H chart typified by: - Low highs and Lower lows - Converging upper and lower trend lines - Ever decreasing volumes to add further validity to the pattern Calm before the storm. The end of correction/consolidation is near...