The last two years has been what seems a never ending struggle for Ripple. Since the all time high of over $3, top holders have seen over a 90% drawdown.
Looking back over the last several years, this massive retracement should come at no surprise. Back in 2015, Ripple saw a very similar, drawn out retracment to what we are going through now. Markets are often compared to waves, and waves tend to repeat themselves.
The big questions are:
All questions are nearly impossible to answer with absolute certainty. However with the aid of technical analysis we can examine previous waves, ratios, and trendlines to help make trades in our favor.
The Analysis:
Based on time, Ripple is approaching the same time zones at which it bottomed in 2017. This zone was created by measuring the time from 2015 ath, the end of wave 4, and the bottom spring from 2017. Moving the number over to our current retracment from the ath in 2018, we have October - January 2019 as the bottom zone. Using this same method, we then have December 2019 - March 2020 as our launch.
Combining this analysis with trendlines, we see that we are approaching an extremely important intersection trendline. This sits just above 20 cents from where we are now.
This massive support was created from the 2015 peak to the top of the first impulse wave in 2017.
Through several markets, trendlines like this are known to produce tremendous support.
Looking at the entire picture, I find it very interesting how our time analysis matches up with this major support intersection. Coincidental? I'm sure if others combine other forms of TA they will come up with similar results.
Quick notes on fundamental analysis:
- With the increasing interest in crypto this year, one may hope that alt coins will soon have their chance to run.
- Ripple escrow is now open. Sadly meaning that the developers have the ability to sell to the investors.
I hope you all enjoyed the read and wish you the best of luck!
Looking back over the last several years, this massive retracement should come at no surprise. Back in 2015, Ripple saw a very similar, drawn out retracment to what we are going through now. Markets are often compared to waves, and waves tend to repeat themselves.
The big questions are:
- Where is the bottom?
- When is this going to end?
- Will Ripple ever run up again?
All questions are nearly impossible to answer with absolute certainty. However with the aid of technical analysis we can examine previous waves, ratios, and trendlines to help make trades in our favor.
The Analysis:
Based on time, Ripple is approaching the same time zones at which it bottomed in 2017. This zone was created by measuring the time from 2015 ath, the end of wave 4, and the bottom spring from 2017. Moving the number over to our current retracment from the ath in 2018, we have October - January 2019 as the bottom zone. Using this same method, we then have December 2019 - March 2020 as our launch.
Combining this analysis with trendlines, we see that we are approaching an extremely important intersection trendline. This sits just above 20 cents from where we are now.
This massive support was created from the 2015 peak to the top of the first impulse wave in 2017.
Through several markets, trendlines like this are known to produce tremendous support.
Looking at the entire picture, I find it very interesting how our time analysis matches up with this major support intersection. Coincidental? I'm sure if others combine other forms of TA they will come up with similar results.
Quick notes on fundamental analysis:
- With the increasing interest in crypto this year, one may hope that alt coins will soon have their chance to run.
- Ripple escrow is now open. Sadly meaning that the developers have the ability to sell to the investors.
I hope you all enjoyed the read and wish you the best of luck!
Trade active:
Major Support Line Hit
Comment:
Comment:
0.47 Target hit.
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
