Ripple has risen and fallen on the recent past and if history teach you anything... I have ported almost the same analysis from the past using the same timing and almost same levels, the D point on the past was good looking and harmonic while on the present it looks unfinished or just very different. So that's 60 days of fall during 60 days, 1% per day. The risk to start this setup today is the D point looking unfinished, but if you are able to sustain this eventual spike shorted in case it happens, that's ok to short asap because if it the D point will remain as is, more time you will wait less you gain. And 60 days looks like will be the same for BTC, if you are looking for a long trade and take some vacation that's one I would go for !
Note
If BTC goes up a bit to test the 9,4K resistence, XRP could also make a peak and with this finish the our D point that now looks incomplete, and them the fall of XRP can resume gracefully:Note
XRP crossed the MA and looking good to our target so far:Note
XRP got above our target on 0.5 Fibo and gone past to the 0.786 Fibo so a full bounce was complete and our D point is now complete and harmonic, expecting now almost 2 months of correction of this sprint which could depend or not on BTCUSD behavior:Note
So far everything as expected, on an inner timeframe we can go down more 10%:Note
In another inner timeframe we go down more -14%:Note
Time has passed and XRP is still holding, looks like history doesn't repeat always
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.