XRP has formed a Cup and Handle bottoming formation with the handle as a distorted falling wedge (probably due to bitcoin movements and market uncertainty. Strength is coming in and looks set to make a rally to previous ATH. Targeting $2.50+ short term with longer term target much higher
XRP is currently bouncing off the lower trend line. It broke down from the ascending triangle with bitcoin dumping but looks to be holding here. Bitcoin retraced to the 618 fib level so looks good to long again.
The weekly Holochain chart has consisted mainly of consolidation in a range of 2-5 sats but buyers have certainly been buying the dips. It seems its not far away from a bull run so worth keeping an eye on. Similar structure to XRP in early 2017.
The devil's number! If you calculate the percentage increase in the current parabolic run it takes BTC to $66,666.66.
At this point I think.we see a correction. Is bull runover? NO
This is just wave 1 of a wave wave count using the elliot wave theory. Corrections to around $33k are for buying.
A BEARISH RETEST OF THE BREAKDOWN ON THE $DXY SHOULD HAPPEN RELATIVELY SOON. THIS FITS WELL WITH ALTCOINS AND BITCOIN PRICES AT THE MOMENT. I SEE NEW ALL TIME HIGHS ACCROSS THE BOARD IN CRYPTOCURRENCY IN NEXT WEEKS. I THEN EXPECT A BULLISH CORRECTION WHILE THE DXY DOES IS BEARISH RETEST.
XRP IS FORMING AN ASCENDING TRIANGLE AND TARGETING 0.50 WITH POTENTIAL TO REGAIN THE 0.50-0.65 TRADING RANGE AND BECOME QUITE BULLISH. SUCCESSFULLY REGAINING THIS RANGE WOULD ALLOW FOR MUCH HIGHER TARGETS TOWARDS $2.50