Updated

xrp pattern

xrp pattern looking at previous history

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I expect bearish momentum till May 14th (SEC makes announcement). Then i expect further bearish consolidation till end of discovery period (end August). Then round about end of the year we should see a serious bull run (Should have a final ruling end of 2021)

Level to buy would be $1.37 , $1.05, $0.79, and $0.56.

Let's see..

Note

Price has hit two of our targets which is $1.37 and $1.05.

Low of $0.92 was reached and is finding some support at the daily demand zone.

If a bullish engulfing or a bullish variation forms at current price we can expect bullish movement and movement further up

However the SEC has an announcement on the 14th of May 2021 so price may either remain constant till then. On one side a massive drop in price of ripple if dovish. If hawkish expect serious bullish movement. Or nothing happens.

Once the final ruling is done with the SEC end of the year, again, i expect a bull run if in favour of ripple labs and price to deflate extremely if ruling against it.

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trade is at a key resistance. if bearish engulfing (or a bearish variation continues to form) at the 1.70647 area of resistance expect further bearish movement to 1.32610 and if price falls passed that area it will continue down to 1.04296.

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May 14th come and gone. No fundamental discussed by SEC that moved xrp.

Another SEC event is the Crypto Finance Conference on June 17th. It's a public event so should be interesting.

Besides that technical analysis is holding

Expect further bearish consolidation till August 2021 (discovery period ends)

Expected final ruling December 2021 but ruling could be pushed till June 2022.

Let's see ...

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2nd tp of 1.04296 has been hit.

Very strong bearish momentum so expect price to plunge further down to $0.79.

Again as mentioned expect consolidation before it gets to $0.79

If price does not hold at the $0.79 then expect price to fall to the $0.56 to $0.47 range before consolidating and finally heading for a bull run.

Again fundamentals for xrp lies on court action of SEC against ripple labs. So patience (may take as long as June 2022 to conclude)

Let's see ...

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$0.79 has been hit.

Let's wait for consolidation to first appear in the zone between $0.56 to $0.47.

We are looking for a bullish engulfing to form first around this area.

Once the engulfing forms we will wait for a retest and then enter longs.

HOWEVER, if price does not hold at the $0.47 i expect a further drop down to $0.30 (Tech analysis does say a final 3rd tp is situated at the $0.30 level)

Let's see...

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Ok... so let's wait for price to break above $0,70/$0,77 then a nice retracement back to $0,50/$0,55 and buy there.

Then hodl! :)

I'll be back at around $1 (expect consolidation)

Fundamental: SEC case still on going however the timing of the market could also co-inside with the SEC case falling apart or settling. I wouldn't be suprised.

If SEC still on going by the time breaks out then expect price to rather be a MASSIVE fake out and melt to $0,30.... even lower.

motheomabudusha

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motheomabudusha