Hey all,
This is just a sharing of a potential channel I have come up with. Let me start this by saying I'm a huge fan of XRP. I think it's great and will be very successful.
Now that I've won over half the audience and turned off half the audience... let's get into the analysis here.
It's not that complicated. A potential pitchfork. And if it's real, we just poked our head down into the bottom channel of the pitchfork... leaving a target of like.... $0.12. Pretty scary. That's like a 60-65% fall ahead. If we break back above $0.32, then we can likely negate this. However, as long as it remains down here, there is significant danger ahead.
Good luck all.
This is just a sharing of a potential channel I have come up with. Let me start this by saying I'm a huge fan of XRP. I think it's great and will be very successful.
Now that I've won over half the audience and turned off half the audience... let's get into the analysis here.
It's not that complicated. A potential pitchfork. And if it's real, we just poked our head down into the bottom channel of the pitchfork... leaving a target of like.... $0.12. Pretty scary. That's like a 60-65% fall ahead. If we break back above $0.32, then we can likely negate this. However, as long as it remains down here, there is significant danger ahead.
Good luck all.
Note
In addition, we are now below the 50, 100 and 200-day moving averages on the daily XRPBTC chart.Note
We need to get back up here for some reassurance this is not the case:Note
Loading some shorts here with insanely tight stop losses seems logical. But, that's entirely up to you.Note
Likely fractal:Note
Looking for the flash dump down to $0.127, then bull running to $13+.Note
I hate to say this guys, and I know this chart is not very popular. It literally has zero likes at this point, and I have NEVER had a chart get zero likes. And I know it's because this is an extremely unpopular opinion. The other times I have gotten extremely low likes were when I was calling bear scenarios, which ended up coming exactly true, and those charts also got very very very few likes.But, like I said, I hate to say this, but XRP looks exactly like what Bitcoin looked like when it was hovering at $6,000 before it broke down. It looks nearly identical.
Note
With this recent pop in Bitcoin... this is a positive sign for XRP. The structure looks better.If we can get up here, the structure is no longer following the Bitcoin structure "perfectly".
Note
Note
It appears that we are going to be heading to $0.217 VERY soon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.