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Ripple (XRP) May Give The Biggest Surprise To The MarketHey friends, hope you are well, and welcome to the new update XRP coin. Rejected by resistance: The priceline of XRP has been rejected by the $0.66 resistance and dropped at the $0.22 support level. These are the long-term support and resistance levels and can be seen on the weekly time period chart. It seems to be that the priceline has found a $0.22 level as very strong support as the price action did not break down these support levels even after the bad news and drastic drop. A big BAT and SMAs: On the weekly time period chart, the price action of the XRP coin has also completed the final leg of the bullish BAT pattern and entered in the potential reversal zone. There are also 50 and 100 simple moving averages as supports in this PRZ level. Conclusion: As the priceline of XRP coin has found powerful support at $0.22 and did not break down this support since Dec 2020, Therefore considering the $0.22 support as stop-loss if someone buys the XRP here then it can have a big potential in the coming days as it has also formed a big bullish reversal harmonic move. For exact buy and sell targets for this trade, and other harmonic trading signals you can join: www.patreon.com
BITSTAMP:XRPUSDLong
by moon333
1
XRPUSD has broken down the channelHi friends hope you are doing well and welcome to the new update on Ripple. Today we will have the detailed technical analysis on XRP with USD pair and at the end of this article I would like to show you a very big bullish harmonic pattern that the XRP has formed with Bitcoin pair. Up channel , moon phases and EMAs: Since after the strong there is rally of March 2020 the price action of XRP has started the formation of an up channel. Even though the Ripple is not showing as that much bullish move like the other top altcoins are showing, but it was moving within this channel above the exponential moving averages EMA 10 and 20 very well. After 11th May the price action broke down the exponential moving averages then we can see a bear cross between the exponential moving averages and finally the price action also broke down the channel. I've also placed the moon phase indicator on this chart. On the up side you can watch the full moon and on the downside you can see the dark moon. The distance between one moon to another moon is called synodic cycle and that is 29.5 days long. The recent full moon was appeared below the previous full moon and it was below the resistance of the channel. And the most recent dark moon was appeared below the previous dark moon and that was at very big distance below the support of the channel. That was very clear indication that the price action may move down up to the next recent dark moon and finally the price action followed the signals of moon phases indicator and at this time after breaking down the channel support it is moving down towards the dark moon. RSI and Stochastic pulled the price action down: On the same daily chart if we watch the movement of the price action then it was almost sideways but if we watch the relative strength index (RSI) then it was completely in downtrend since April 29 2020. On 3rd June the Stochastic oscillator also gave bear cross from the oversold zone that was another bearish signal. And now finally the price action has followed the signals and broke down the channel’s support: Simple moving averages support is likely to be broken down: On below chart I have placed simple moving averages with the time period of 25 50 100 and 200. After the bullish rally that was started in the mid of March 2020 the price action could not break out the 200 simple moving average even after making several attempts. Finally the price action moved down and broke down 50 and 25 simple moving averages. At this time the priceline of XRP is at the 100 simple moving average support. If it will be broken down then we will see a further downside rally. Formation of down channel: Now after breaking down the support of up channel the price action of Ripple has formed a down channel. Therefore the price action needs to break out this down channel as soon as possible otherwise if it will be moving in this channel for the long time then this channel will lead the price action towards very low price. Head & Shoulder pattern: On the other side on the same daily chart we can watch the Head and Shoulder pattern formation with the continuation. First pattern was completed in the middle of March and after that the second Head and Shoulder pattern was started. And now it has been completed. Even though if the price action has reached the neckline of the Head & Shoulder pattern then the pattern is completed, however there is still possibility that the price action may move more down like It did in the previous pattern. Long term support and resistance levels: If we observe the long-term support and resistance levels on the weekly chart then we have a very strong support at $0.175. And this support is never broken down since 2017. On the upside we have a very strong resistance level at $0.31. This level has been working sometime as support and sometime as resistance very well since 2017. At this time It is working as very strong resistance as the price action is never able to break out this resistance level since after it was broken down in July 2019. Therefore this resistance is became a very powerful and key level resistance for the priceline. Once it will be broken out then the price action may start a very long term strong bullish rally. XRP with BTC pair analysis: Now let's switch to the XRPwith Bitcoin pair and here the price action of Ripple has formed a very positive bullish move as it has completed the formation of a very big bullish butterfly on the long-term weekly chart. At this time the price action is entered in the potential reversal zone of this bullish Butterfly and as per Fibonacci sequence it should be moved up from this level up to the Fibonacci projection between 0.382 to 0.786 level and this is the Fibonacci projection of A to D leg. As per bullish butterfly the buying and sell targets can be as below: Buy between: 0.00002028 to 0.00001548 sats Sell between: 0.00002400 to 0.00003300 sats Conclusion: Ripple is showing very weak moves with USD pair. Even it is turning more and more bearish. But if we watch its move against the Bitcoin pair then it has formed a very positive bullish harmonic pattern. And from this move we can get a clue that if the price action will turn bullish from the potential reversal zone of this harmonic pattern then definitely it will also turn bullish against the US dollar pair as well.
BITSTAMP:XRPUSD
by moon333
5
Will XRP Breakout This Key Level Resistance To Achieve $5Hi friends hope you are doing well and welcome to the new update on Ripple even though this coin is less bullish comparatively to other top cryptocurrencies however it is giving some bullish signals let’s talk about them. Finally priceline is showing bullish bounce: On the daily chart the priceline of XRP is moving within an up channel since Mar2020. Recently on 25th May XRP was reached at the support and got bounced from there. Now we can see a sequence of bullish candlesticks is being prepared. Even though these candlesticks are not as that much bullish as they should be after this bounce. However the continuation of green candlesticks is a bullish signal more over we can see that buying volume is being appeared with the continuation that can lead the priceline to the resistance of this channel. Indicators are turning bullish: If we notice the different indicators and oscillators on the daily chart then all are turning bullish. For example if we watch the moving average convergence divergence (MACD) then it was strong bearish and now it has turned weak bearish. The stochastic is already strong bullish and the relative strength index RSI was in downtrend since 29th April 2020 and now it is breaking out the down trend line that is a bullish signal. Because sofar the price action was following the trend of RSI. If RSI will be turned bullish then definitely price action will also follow the trend of relative strength index. SMAs on daily chart: If we observe the position of the simple moving averages on the daily chart with the time period of 25, 50, 100 and 200 then it can be clearly seen that 50 SMA has moved up and formed golden cross with 100 simple moving average, if it will move further more upwards then it can form another golden cross with 200 simple moving average as well. And that is considered a very strong buying signal among the traders community. That can be a big invitation to many traders to buy XRP. However the 25 simple moving average is likely to move down and can form bear cross with 50 and 100 SMAs. But it doesn't matter because the 25 SMA is already moving sideways with these tow simple moving averages. If 25 SMA would be coming down form some distance then this death cross would produce some bearish rally. EMAs on daily chart: The exponential moving averages with the time period of 10 and 21 are very important to determine the bullish or bearish trend of any asset. On the daily chart of Ripple the EMA 10 and 21 are in bear cross since 13th May 2020. And the priceline is moving sideways with these two moving averages. Now the exponential moving average 10 is moving up and at this time it is very close to EMA 21 and the price action is likely to cross up these two EMAs. We need the closing of the candlesticks above these two EMAs as soon as possible in order to breakout the channel’s resistnace. Falling wedge on long term chart: Now let's switch to the long-term weekly chart. And here we can notice that the price action of XRP is moving in a falling wedge since August 2018. And so far priceline is not able to break out the resistance of this wedge even after several attempts. In my previous article we have seen that the bollinger bands was below the resistance of the wedge, therefore the Ripple had the bollinger bands hurdle before the wedge’s resistance. That could stop the price action to reach up to the resistance. This time the upper bands of the bollinger bands has moved up above the resistance of the falling wedge and this is a bullish signal for the breakout. Because now it can be easy for the price action to cross up the resistance of the wedge. Indicators on long term chart: If we watch the different indicators on the long-term weekly chart then Stochastic has turned strong from the oversold zone. And the relative strength index is moving sideways and the moving average convergence divergence is also strong bullish. As the stochastic in MACD are strong bullish therefore we can expect that RSI will also follow these bullish signals and it will be changed to bullish soon. As visiting the overbought zone after coming out from oversold by the RSI indicator is already due. Key level resistance at $0.31: Now I would like to recall a major key level resistance and support level for the priceline of Ripple. And that strong resistance and support level is at $0.31. If we see on the chart then it would be revealed that since the XRP was come to existance this $0.31 level has been working as powerful resistance and support level. First we can see that it has been working as a strong resistance from May 2017 to December 2017. But once this resistance was broken in December 2017 then within one month upto January 2018 price action started very powerful bullish rally that produced more than 1476% gains. And achieved more than $3 price level. Then from January 2018 to August 2019 it has been working as strong support for the priceline. But once in August 2019 this support has been broken down since then priceline could not breakout this resistance again. Therefore we can expect that once this resistance will be broken out then it can repeat the same move of Dec 2017 to Jan 2018 and produce more powerful bullish rally than the rally of 2017 to 2018. And this powerful bullish divergence can lead the XRP to reach $5 price level that will be all time high price. But if the priceline will be moved down from here then we have a strong support of $0.175 and the price action is already moving very close to this support. Conclusion: Even though the Ripple is turning bullish on short term and midterm but it is still less bullish comparatively to other top cryptocurrencies. However once the XRP will be able to cross up $0.31 resistance level then it can turn more bullish than other coins.
BITSTAMP:XRPUSD
by moon333
3
XRPUSD Is likely to breakout the key level resistanceTaking Bounce From The Support Of Wedge: As we have seen earlier in previous post that on week chart the Ripple is moving in a falling wedge. The formation of this chart pattern was started in Aug 2018 and now after Aug 2018 the price action has hit the support of this wedge in Dec 2019 and with hitting at support of wedge the priceline had also hit the lower band of Bollinger bands and now it has taken a strong upwards bullish move and gained more than 61% value. After placing volume profile indicator on the complete falling wedge pattern it is visible that trader’s interest was very low at the support of the wedge this was a very strong indication for this bullish move and we also had POC level of volume profile above the price action at $0.31 and this level is also a key level resistance for the Ripple as it is not broken out since Aug 2019. Based on above signals I predicted in my previous article which I posted in Jan 2020 that the XRP will move up from this support of the wege to hit the key level resistance at $0.31. Below is the chart from Jan 2020 when I posted my previous article: Below is the current position of Ripple: Simple Moving Averages | An Alligator’s Mouth Formation: On daily chart the simple moving averages with time period of 25, 50, 100 and 200 are turning strong bullish by forming an alligator’s opened mouth the 25 SMA has crossed up all other SMAs an 50 SMA has also crossed up 100 SMA and now has come very close to 200 SMA to form a golden cross with it then only 100 SMA will be left to form a bull cross with 200 SMA once the this bull cross between 100 SMA and 200 SMA will be formed then we will have a complete alligator’s opened mouth formation by these moving averages like they formed in Jun 2019 and the price action gave more than 80% profit. This time again the price action is expected to start a powerful bullish rally after an alligator’s opened mouth formation. The Key Level Resistance And Indicators: Since XRP has crossed down the price level $0.31 in Aug 2019 it could not cross up this price level again even after several attempts. So now $0.31 became a key level resistance for Ripple which is not letting the price action of XRP move up since Aug 2019. But this time the priceline is likely to breakout this resistance. If we examine since Jan 2020 the volume oscillator has triggered four times in favor of bulls with strong values of 27.62% , 23.90% , 28.34 and this time the oscillation is most powerful with the value of 30.56% if this time again the volume oscillator will be triggered then price action may breakout the resistance coz we are very close to resistance this time. The moving average convergence divergence is strong bearish and stochastic is in bear cross once the MACD turns weak bearish or stochastic gives bull cross then from here the breakout from the resistance will be confirmed. After Price Correction A New Bullish Harmonic Pattern Formed: From 13 to 16 Feb 2020 we have witnessed higher spikes than the resistance but no candle stick closed above this level and now the price action has a pullback for price correction rally and during this price correction on short term 4 hour chart the Ripple has formed bullish Shark pattern with all required dimensions as below: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B leg's Fibonacci projection and final (C to D) leg is retraced between 0.886 to 1.13 Fibonacci. And after completion of pattern the price line has a strong push from potential reversal zone and now it has entered in Fibonacci projection area of C to D leg between 0.382 to 0.786 Fibonacci. But in my opinion this push will trigger more power full bullish divergence which will lead to breakout from the resistance.
BITFINEX:XRPUSDLong
by moon333
XRPUSD After 2 Years RSI Is Oversold Now Ready To Hit $0.31On week chart the Ripple is moving in a falling wedge. The formation of this chart pattern was started in Aug 2018 and now after Aug 2018 this is the price action has hit the support of this wedge in Dec 2019 and with hitting at support of wedge the priceline is also hitting the lower band of Bollinger bands. Now we have some more positive developments in favor of bullish move after hitting the support. As per bitfinex exchange data on week chart the relative strength index (RSI) is entered in oversold zone 1st time since after Sep 2017 and it has just tipped in oversold and indicators and oscillators are turning bullish. For example the Stochastic has given bull cross from oversold and moving average convergence divergence Stochastic has given bull cross from oversold zone and moving average convergence divergence (MACD) has turned weak bearish from strong bearish and also likely to give bull cross very soon. Since Aug 2019 the price action has broken down the $0.31 support now this support is become a key level resistance for the price action of XRP and sofar the priceline is not able to breakout this resistance even after several attempts. Now we have an optimistic situation coz after more than 2 years the RSI on week chart has visited the oversold zone and sudden after this happened all indicators are turning bullish as we have seen earlier if this time the price action will be able to breakout this resistance level then we witness a real powerful bull rally which can lead 1st the price action to hit the previous high and if the previous high level will be broken out then a new highest price level can be achieved. Regards, Atif Akbar (moon333)
BITFINEX:XRPUSDLong
by moon333
XRPUSD formed bullish BAT | A good long opportunityPriceline of world's 3rd largest cryptocurrency Ripple (XRP) has formed bullish BAT pattern and entered in potential reversal zone. This PRZ area should be used as stop loss in case of complete candle stick closes below this zone. Lets have a look on the move of price action to see how perfect this pattern is driven: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this bullish BAT and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg , but if after this bullish divergence the candles sticks will be closed above the 0.786 Fibonacci projection area of A to D leg then it can also lead to the long term bullish move. As per Fibonacci sequence method we can set our targets as below: Buy between: $0.19305 to $0.19228 Sell between: $0.19490 to $0.19766 So this very short term 2hr chart would be a good long opportunity for XRP day traders. Regards, Atif Akbar (moon333) The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not an investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic BAT pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
BITFINEX:XRPUSDLong
by moon333
1
XRPUSD formed harmonic within harmonic | XRP mid term analysisIn my previous post: We have seen that the price action of Ripple / US Dollar has formed a bullish Crab and so far the price action is still moving within the potential reversal zone of this pattern. This time the priceline has formed a parallel channel within the potential reversal zone of this shark pattern and likely to form a 3rd bottom at the support of this channel: The Indicators and Oscillators: On daily chart the Relative Strength Index (RSI) has entered in oversold zone with the value of 29.45 this is the second time it is visiting the oversold within a month before this it was oversold with the value of 16.86 on 25 Nov 2019 but at that time the bollinger bands was moving steep down and this time the bollinger bands is squeezed and side ways which is a good indication. On 25 Nov the moving average convergence divergence (MACD) was in bear cross and histogram was showing strong bearish trend and this time the MACD is in bull cross and histogram is showing weak bullish trend soon it can be changed to strong bullish trend. The Stochastic is in bear cross and it may visit the oversold once more in the meanwhile the price action can move sideways. Harmonic within harmonic: Now withing this potential reversal zone of previous Crab pattern and in this channel the price action has formed another harmonic pattern and this time it is bullish Gartley pattern now lets see how this pattern is perfectly driven: After intitial leg which is started from 25 Nov's candle stick the A to B leg is retraced between 0.618 to 0.786 then B to C leg is projected between 0.382 to 0.886 projection area of A to B leg (ignoring the spike) then sofar the C to D leg is retraced between 0.618 to 0.786 Fibonacci which is perfect as required for bullish Gartley and now we are in potential reversal zone of this gartley so on bigger pitcure we are in potential reversal zone of bullish Crab pattern where the price action has capacity to take almost 40% bullish move and on smaller picture the price action is in PRZ of bullish Gartley pattern with capacity to take bullish divergence upto 9 percent move. Now according to both patterns we can set our buying and sell targets as below respectively: The bigger Crab pattern: Buy between: $0.23249 to $0.20982 Sell between: $0.25012 to $0.29287 The smaller Gartley pattern: Buy between: 0.21457 to 0.20929 Sell between: 0.21873 to 0.22870 Regards, Atif Akbar (moon333)
BITFINEX:XRPUSDLong
by moon333
Ripple (XRP) Mid Term Analysis | XRP Has Formed Bullish CrabStarted moving in channel: Since 3rd Nov 2019 on 4hr chart the price line of 3rd largest cryptocurrency Ripple had started moving in a down channel and on 7th Nov the price action crossed down the Basis of Bollinger bands and kept moving below the Basis in the meanwhile it was continuously hitting the lower bands of Bollinger bands. At last on 25 Nov a large spike down beyond the lower band support of Bollinger bands hit the channel support which produced a bull bounced and after getting bounced from here the price action crossed up the Basis and also broke out the channel resistance on 27 Nov 2019 and now the Ripple is moving through a price correction period during this period the price action may retest the resistance of channel as support. The oscillators and indicators: We have received strong bullish signals upto 12hr chart but if we see on Day chart then it can be seen that the indicators and oscillators are just turning bullish lets have a look. 1st is we see the moving average convergence divergence (MACD) then it was strong bearish since 1st Nov in the meanwhile it has been fluctuating to weak bearish but that was only for a day but now it has turned weak bearish since last 5 days continuously. The relative strength index is also in oversold zone and Stochastic has given bull cross from oversold zone moreover the price action is getting bounced from the lower bands of Bollinger bands these indications are quite sufficient for confirmation of trend changing from bearish to bullish. The Harmonic Move: Since 23 Oct 2019 the Ripple has started forming a harmonic bullish Crab pattern lets have a look how perfect pattern it can be as per text book information of bullish Crab. After X to A (the initial leg) the B leg is retraced Upto 0.45 Fibonacci whereas per text book information of Crab we need the retracement of B leg between 0.382 to 0.618 Fibonacci and if we see the B to C leg then it should be projected between 0.382 to 0.886 Fibonacci projection of A to B leg and on chart there is little bit spike beyond the 0.886 Fibonacci but it can be ignored coz all other legs are driven perfectly as required for Crab. Now if we see the movement of C to D leg then it should be retraced between 1.27 Fibonacci to 1.618 Fibonacci and on chart the final leg is driven perfect as required and this area from 1.27 to 1.618 Fibonacci is also the potential reversal zone of this bullish Crab pattern and we can take the long position between this area and we can set our sell targets between 0.382 Fibonacci to 0.786 Fibonacci projection of A to D leg, so the buying and sell targets can be as below: Buy between: $0.23249 to $0.20982 Sell between: $0.25012 to $0.29287 So move has potential to give upto 39% profit but if the price action crosses up the 0.786 Fibonacci projection area and complete candle stick closes above that area then it can have more powerful bullish divergence from there and may start more powerful bull rally. Regards, Atif Akbar (moon333)
BITFINEX:XRPUSDLong
by moon333