This is how I view the macro trend for XRP\USD at the moment. I expect the accumulation phase to carry on until August/September before a serious move to the upside confirming a change in the trend. The price may touch again the $0.11- $0.14 zone for a double-bottom pattern confirmation. The fundamentals for this asset are now stronger than ever and the catalyser could be an announcement of a large bank using ODL. The entire crypto market shows a correlation with the traditional stock market but I expect a de-coupling later in the year due to the devaluation of the USD and other major currencies as Central Banks have been printing very large ammounts. Good luck and these months could be seen as the moment of maximum opportunity.
Trade active:
The first wave is now in motion. Personally I would have expected to see this in August September but in crypto things move much faster sometimes. If XRP\USD will break the $0.2450 resistance then the next target will be $0.29 -$0.30 area before a correction. However, it will be healthier to see a correction now around $0.22 - $0.21 area before the next leg up. We also need to bear in mind that the bullish trend has nnot yet been confirmed, despite the good break-out from the downward bearish trend line. The bull market confirmation will only come if the price will decisevely break the area of $0.34 - $0.35. Once that will zone will be broken, expect some big fireworks on the charts and price movement.
Trade active:
The first target has been met and also the correction wave 2 has now completed. On the way to the third leg up. Of course time wise and levels won't much exactly as I do not have a crystal ball and no one on this Earth will be able to offer such precision especially on a weekly long term chart.
On the current wave inside the Daily, I would say that a correction and consolidation is expected with lows around $0.34 - $0.35 before the next leg up towards $0.50
Good luck!
On the current wave inside the Daily, I would say that a correction and consolidation is expected with lows around $0.34 - $0.35 before the next leg up towards $0.50
Good luck!
Trade active:
Here is the current chart adjusted with the time frames.
Here is the current chart adjusted with the time frames.
Trade active:
It looks like $0.50 has been breached so the next target now it is now on the way to $0.72 - $0.75. I will close about 3 trades with over 140% at that level and I will expect a correction of 20-30% at that point which will see the price go down to about $0.50 - $0.55.
Trade closed: target reached:
The targets have been met now and a few more orders were executed at $0.54. Price is currently consolidating in the $0.60 area which was an old resistance that now has become support. I am expecting another move up towards $1 with an extended top to $1.25 possibly $1.35 which will be good TP areas. Once that would have happens a correction could take us back to $0.75 - $0.85 area in order to get rid of more weak hands who will buy the top of the next move.
I think by the end of this week we will XRP making big moves again. Good luck!
I think by the end of this week we will XRP making big moves again. Good luck!
Trade active:
To be clear, I have only closed three positions which represent about %5 of my XRP holdings and all the profit has been re-invested back buying around $0.54.
Comment:
This is my view on what is going to happen next. Here is where we are looking at fractals with early 2017.
Trade active:
Quick update.
The current correction seem to be completing and while the Fibonacci 0.618 levels have been showing great support the current 0.382 may be indicating the readiness for the next move up. Being a bit more conservative , I would say that another visit to the $0.50 zone is very likely where I am looking to pick up some more XRP to ride it all the way to the $1.25 - $1.30 levels. I do not believe we will see this next move before EOY but as cyrpto is very unpredictable I won't discount it. I believe that the price will consolidate further until mid January with a possible move around 14 - 16th of January.
The current correction seem to be completing and while the Fibonacci 0.618 levels have been showing great support the current 0.382 may be indicating the readiness for the next move up. Being a bit more conservative , I would say that another visit to the $0.50 zone is very likely where I am looking to pick up some more XRP to ride it all the way to the $1.25 - $1.30 levels. I do not believe we will see this next move before EOY but as cyrpto is very unpredictable I won't discount it. I believe that the price will consolidate further until mid January with a possible move around 14 - 16th of January.
Comment:
Here is the Fibo extension in the above context. The target here is $1.35
