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Symmetrical Triangle on the XRP Monthly chart ready to breakout?This Triangle can also be seen well on the weekly…and also valid on the daily chart but you have to scroll over to see the whole triangle on the daily. I chose the monthly chart for this idea though because it’s the easiest one to see all the key valid touches on both the bottom and top trendlines of the triangle.That bottom trendline has been holding for 3 years now and is super strong support. We just had a flash crash on the daily dip down below it and threaten to trigger what looks like a h&s on the daily chart (not shown here) however that was quickly bought up and with very little volume to show is looking to be a classic fakeout breakdown/bear trap. Still a decent amount of hours left in todays daily candle but as long as that candle closes green it is a very good sign that this triangle will likely be breaking upwards. *not financial advice*
CRYPTO:XRPUSDLong
by DrDovetail
2
4 potential top trendlines for monthly log chart xrp patternXrp has some sort of bull pennant that it has been forming since the 2018 top and there are at least 4 potential top trendlines for it which I have showcased here with different colors. The green top trendline would be if the most valid pennant is an ascending triangle, the light pink line is for a cup n handle pattern, the brown trendline is jut connecting the two red wicks, and the teal trendline is there because it was able to connect 4 key wicks. The purple trendline is the top trendline of a smaller triangle inside the pennant that has a breakout target of around $12 which means once it breaks out and its getting quite close to its apex, the momentum it brings on the way to its measured move target will take us well above the highest of all these potential top trendlines causing the chain reaction of the larger pennant validating its breakout as well. This is a monthly chart timeframe of course though…so even though the inside triangle with the purple top trendline is nearing its apex that breakout from that triangle could still be very possibly 1-3 more months away. I get the feeling around the time of the automated market maker amendment being implemented(march 22nd) we could see price finally leap up out of the triangle, if so I’m expecting a very bullish april for xrp The good news is the highest price for any of these potential top trendlines currently is around $1.56-1.58 or so and is not gonna be getting any higher so once we flip that price zone to solidified support then we can look forward to validating the breakout on the big pattern, and the fact that it’s a pennant means we will have 2 targets to look for in the long run: 1 for just the flag portion and then a much higher one based on the height of the pennant’s pole. I left the price target of the poles measured move target(in neon yellow) out of the frame of this chart idea but you may be able to drag that part of the chart down into the frame with your mouse or touchscreen if trading view still lets you. The reason I left it out of the frame is because I wanted to be zoomed in close enough to the flag portion of the bull pennant itself to be able to clearly see how the candles move in the coming months whenever I pull this chart back up and click the play button. *not financial advice*
CRYPTO:XRPUSD
by DrDovetail
1
XRPUSD log chart’s triangle pattern on the 1 month chart.Always a chance price action could break above this triangle at any given moment but we can see that the apex of this triangle goes all the way not 2026, so it could also just continue to grind slowly idle ways as well. Hopefully a final ruling in the SEC Ripple case occurs soon and isn’t followed up by any kind of appeal so price action can finally get moving. I am simply posting this chart here so i can keep tabs on this pattern as time progresses. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
Potential Macro Channel on Bitcoin to keep an eye onThis ascending channel on the monthly chart has both pi cycle tops from the last two bull runs as key touches on the top trendline. The bottom trendline has lots of important key touches too. If we break above my other big wall of channels which I have posted in a previous idea, thie top trendline of this channel would be the next price I would be looking for for a potential bull market top. By next month the top trendline of this channel wlll be around 240k. The other wall of channels I have posted in the past has a current top trendline around 120k so it would definitely ahve to find aay to break up from that one first to have a chance to retest the top trendline of this one. Gonna keep a close eye on it. *not financial advice*
BITSTAMP:BTCUSD
by DrDovetail
Xrp still inside a slightly larger symmetrical log triangleWe had a glorious breakout yesterday and today have seen that candle retrace more than 50 % of its length liquidating all sorts of top buyers no doubt. This happened after price manages a wick above the monthly 50m (in orange) but ultimately was rejected from that zone. It wasn’t just the monthly 50ma that put up the resistance however…there is in fact one last top trendline of a slightly bigger triangle on the xrp log chart shown here in red. Price action got close enough to this line to experience a rejection through the combined resistance of it and the monthly 50ma…the red triangle’s apex isn’t until the end of June…hopefully price will break above it in the current zone though when patterns usually have their breakouts on average (about 5-15% away from the apex). If it takes as long as it did to break up from our pink triangle however it could consolidate inside the triangle here until late June. That would shake a lot of frustrated weak hands no doubt. However I’m still confident we have broken up from the pink triangle and should still reach its full $4.90 target, might just take many months to get us there. The first step will be flipping the top red trendline to solid support and an even more important next step will be flipping the monthly 50ma to solid support. Those are the 2 trendlines to watch. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
An update on the symmetrical triangle on the monthly xrp chartThe current candle on the daily chart looks absolutely massive compared to the other candles before it. You can’t really see it on the monthly chart, however I chose to use the monthly chart for this idea because the triangle it’s breaking up from is best seen on the monthly chart. With such a massive candle on the daily I’m confident we are finally breaking up from this pattern. I had already posted an idea featuring this monthly triangle a few weeks to a month or so ago but wanted to post a new one because I noticed that the measured move price when I charted the triangle on this exchange (BTSE) was slightly lower than what I posted on the previous idea with the monthly triangle. The previous idea I posted, it looked as if the measured move target was over $6. This was charted on the bitstamp exchange. Because the price can jump exponentially with each inch you move the price label when you are on log mode I decided to double check going by the exact top of the dotted line instead of what the price label said. When I did this on the BTSE chart, the top of the line was actually at $4.59 instead of over $6 so I wanted to clarify and update. Part of this price difference could be because this is a different exchange so I will also go back to the bitstamp chart to see what the top of the dotted line is on that one and update this idea as well as my previous one about this triangle. Either way, even though the target may be slightly lower than my initial chart suggested, it still seems to be calling for a new all time high…and I am confident price will eventually head to the over $6 range and much higher in the long term, albeit maybe with some sizable corrections along the way…and this current pump seems like it may be just the start. *not financial advice*
BTSE:XRPUSDLong
by DrDovetail
An update of xrp’s monthly candle on the bitstamp log chart!I just did an update on this monthly log symmetrical triangle using the BTSE chart in my previous idea, but wanted to also go back to the exchange that I first posted the idea on almost a month ago which was bitstamp. Upon going back to that exchange, I discovered there were actually two potential targets to this triangle breakout. If the bottom yellow trendline is the more valid trendline for this triangle, the breakout target is around $4.90. However, if the bottom trendline to this target is the slightly lower and longer pink trendline, then the breakout target is $7.10! Either way, we have only just begun to pump and it appears like a new all time high should be happening in the not so distant future for xrp!! Next big resistance to watch is gonna be the monthly 50ma(in orange) *not financial advice*
BITSTAMP:XRPUSDLong
by DrDovetail
Monthly falling wedge on btcusd reaching its apex on bitstamp.We currently have 9 consecutive daily chart candle closes above this falling wedge. You cant see that here because it is the monthly chart. I think we will need at least 2 weekly candle closes above the falling wedge to confirm its breakout however. Other exchanges charts have had price action above their falling wedge patterns for even twice as long as this one has so that adds to the bullish confluence and probability that this pattern will soon confirm a break out upward. A breakdown from this pattern would result in an impossibly low measured move target so odds favor the break upwards. May still take a couple months to confirm however. (Not financial advice)
BITSTAMP:BTCUSD
by DrDovetail
10
Crazy price target on xrpusd rising channelOn the log chart we can see xrpusd has been in this rising channel since it’s inception. Now, if it were to revisit the top trendline again the lowest price we would reach it at would be $138. Odds are it would retest the top trendline way later than that though. I know this price seems absolutely absurd but thats what this pattern is calling for. I will have already cashed out most if not all of my xrp before any crazy price targets like these ever get reached but I do hope it reaches 3 digits one day.*not financial advice*
BITSTAMP:XRPUSDLong
by DrDovetail
11