I'm sharing this as a follow up to a call I made on Reddit as we were running on $0.72 where I called the $0.72 peak and projected a retrace back to $0.55. As we're now nearing the range I called, I've decided to do a bit more thorough price analysis to delve into probability of different short term bottoms as well as projecting the most likely EoY/Q1 price...
In my last chart, we looked at XRP's weekly RSI, which had just hit an all time historic low. But because it was an unprecedented move, there were very few data points to try to put the potential ROI into context. So today I'm having a look at XRP's daily RSI. Because there's a bit more noise in the daily RSI, I am being rather selective with my data points, and...
Apparently these bears aren't paying attention to XRP's weekly or monthly RSI. This is the first time in XRP's nearly 9 year lifespan that it's weekly RSI has fallen to 30, and as any trader worth their salt knows, an RSI of 30 or lower is premium buying signal. Which means XRP is flashing the biggest buy signal in it's entire history. This is the first time the...
Looking like XRP is ready to collapse back to the $0.64 range any day now and begin the ugliest phase of what will be remembered as a short 2 year bear market.
While I'm posting this as "long" the chart obviously says we're going to form a double bottom, or go slightly lower than our recent $0.62 low. Everyone is talking about 'alt season' going into March, and as history shows "everyone" typically get these calls wrong. So I'm taking profits here & looking to re-enter near the double bottom. Could price fall out back...
Maybe I'm just a hammer who's starting to see every chart pattern as a Wyckoff, but we've broke strongly below our ascending support & a full wyckoff is able to be drawn on the hourly, suggesting that we're about to see the price correct back to it's mean of $0.74 again. This makes sense in my mind as I was under the impression that a healthy rally off the...
I'm back on board with my call from last week of a return to $0.67 for XRP. This time instead of using wyckoff, I've adjusted XRP's 4 hour price history (from it's initial run up in March 2021 until present) and the price correlation to this week is too striking to ignore. If this plays out, we'll see as short term peak below $0.83, before returning to the high...
XRP's breakout Monday is seeing continuation today, as XRP is pushing through strong resistance at the 1900 sat range. Suggesting a strong potential for another 36% run in the coming days. If this move is driven purely by XRP pumping, expect XRP to run from $0.86 to $1.10. However this could also play out such that XRP consolidates/flatlines around it's current...
I'm not really confident that this pattern will finish printing, but still wanted to share it. A sharp eye/individual who's familiar with the Wyckoff patterns will notice that the price violated the pattern at least twice, once near the AR and in our most recent leg up, when it ran straight to the resistance level & has now collapsed back down. Perhaps this is...
The fractal is XRP's fractal from 2017. Probably nothing. Not financial advice.
I'm guessing the longer the time frame, the smaller the break out.. right? ;)
I took a look into my crystal ball and this is what the chart & fundamentals look like.
CELO/CGLD alone is the only one of 6 digital assets promoted as top in class regarding decentralization, scalability & energy cost, by the World Economic Forum to have a total supply Market cap below $10B. The price target of ~$28 would place CELO with a Market Cap just shy of $9B. This would place it in the lower value end of it's fellow WEF tokens, ADA ($66B),...
Granted, there was nearly a 3x difference in the amount of volume between these candles' volume ($6.5M vs $2.5M), the price fluctuation is an order of magnitude less volatile. What this suggests to me is that the market has determined this sell off was either premature or dramatically oversold. Zooming out, it appears XRP has just been primed for a strong rally,...
Can you tell I was bored tonight?
2021 was only the beginning. That's all need be said, the chart speaks for itself.
We just formed a perfect diamond, with bullish confirmation! Looking for a run on $1.64 before any chance of another strong draw back. If XRP is going exponential, expect a break of this range with a high chance of retracing from $2 to around $1.72. Another way of viewing this, is from the Wyckoff Method. We are currently testing the "LPS" (Last Point of...
I was just toying around with channels on the XRP chart & realized we're forming a near perfect diamond! If a bullish breakout is confirmed, $1.64 becomes our short/immediate test point. If XRP is going exponential, expect a break of this range with a high chance of retracing from $2 to $1.72. Another way of viewing this, is from the Wyckoff Method. We are...