Hey, I am back with another idea, this time looking at something else than Bitcoin, Ripple!
If you arent interessted in reading a lot, just scroll down to bold highlighted text where I point what is most likely to happen based on my TA.
I suggest read it whole, but I accept when someone wants to go straight to the point!
Ripple was very stable in september and price hovering around 30-25 cents and than the price wasnt moving at all. Ripple has shown strong stability and very low daily price change, thats when I knew, Ripple was ready to pop, shame I havent made TA here and only informed my group, but nevermind..
Ripple has shown a very strong move even trought the fact that XRPSHORTS have broken out so hard, and many people tried to push Ripple price lower, but unsuccesfully.
Enough talking, lets look at what Ripple past suggests, what is current situation and what moves is Ripple most likely to see next.
Lets go in Chronological order and keep it simple and compare Ripple past to current time.
The setup looks almost the same as last XRP breakout
Almost same % retracement from highest top to lowest level.
12h MACD found uptrend at high spot, same like this time.
12h RSI has found support right above bullish level 60 and sees uptrend, same like this time.
Will post comparisons in updates.
Lets look at current situation.
Ripple has seen strong runup, after which we´ve seen profit taking,shorting, but the demand was really strong and Ripple popped right back from 44 cents to test 57 cents, which you may consider as current support(0.57$) and then remained pretty stable. Stability after runup suggests another runup may occur.
After that Ripple has tested key ressistance of 60 cents twice, unsuccesfuly but found support way high, which is good bullish sign, and its still uptrending!
What is my opinion XRP based on my Technical Analysis?
Most likely the 0.79$ breakout was just a first impulsive wave, 0.44$ as the start of third, longest wave.
Ripple has to break 0.60$ ressistance in order to break free and see another impulsive wave.
Target? End of wave 5.
If you liked this Technical Analysis, dont forget to leave a like if you find this TA on point, Thanks a lot!
If you arent interessted in reading a lot, just scroll down to bold highlighted text where I point what is most likely to happen based on my TA.
I suggest read it whole, but I accept when someone wants to go straight to the point!
Ripple was very stable in september and price hovering around 30-25 cents and than the price wasnt moving at all. Ripple has shown strong stability and very low daily price change, thats when I knew, Ripple was ready to pop, shame I havent made TA here and only informed my group, but nevermind..
Ripple has shown a very strong move even trought the fact that XRPSHORTS have broken out so hard, and many people tried to push Ripple price lower, but unsuccesfully.
Enough talking, lets look at what Ripple past suggests, what is current situation and what moves is Ripple most likely to see next.
Lets go in Chronological order and keep it simple and compare Ripple past to current time.
The setup looks almost the same as last XRP breakout
Almost same % retracement from highest top to lowest level.
12h MACD found uptrend at high spot, same like this time.
12h RSI has found support right above bullish level 60 and sees uptrend, same like this time.
Will post comparisons in updates.
Lets look at current situation.
Ripple has seen strong runup, after which we´ve seen profit taking,shorting, but the demand was really strong and Ripple popped right back from 44 cents to test 57 cents, which you may consider as current support(0.57$) and then remained pretty stable. Stability after runup suggests another runup may occur.
After that Ripple has tested key ressistance of 60 cents twice, unsuccesfuly but found support way high, which is good bullish sign, and its still uptrending!
What is my opinion XRP based on my Technical Analysis?
Most likely the 0.79$ breakout was just a first impulsive wave, 0.44$ as the start of third, longest wave.
Ripple has to break 0.60$ ressistance in order to break free and see another impulsive wave.
Target? End of wave 5.
If you liked this Technical Analysis, dont forget to leave a like if you find this TA on point, Thanks a lot!
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I've expected more stability but Ripple seems more volatile, from 8500 to 9100, thats a pretty wide range considering Ripple market cap.Note
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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.