Short

XRP moves very similar to historical movements. Drop incoming ?

Updated

Looking at the run-up to the previous bull run(s), very similar movements can be observed.

Last chance to buy at low levels before the 2024 bull run starts?

0.54 tot 0.42 candle looming at the horizon.

Get ready to fill your bags.

Trade active

Played out exactly as predicted
Will it go down further ?
I think it will take out the "shorts" first with a nice fake-out tot the up-side before moving back down to swipe away the lower liquidity.

Observing what triangle will hold

Trade safely

Trade active

If yesterday was the current bottom of this move down, then XRP would likely follow the red fractal.

TP1: 0.80
TP2: 1.00
Then sell
Buy back at 0,59 --> then Bullrun

Note

We broke further down, so the possible bottom as stated above is invalidated.

The original idea seems to stay valid.
We broke the second up-sloping trend line, a drop to 0,39 USD is starting to look very realistic.

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Played out exactly as predicted.
Bought at 0,43.
Could go a bit lower to 0,39

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This idea is aging very wel...
In for the final drop.

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Stil following the original analysis...
Made some extra possible lines, as time progresses, but the general trajectory seems to stay valid.
After my buy at 0,43 I sold at 0,6345 and re-bought at 0,56750.
Yesterday I sold again, but now at 0,64750
Target for re-buy according to original idea = 0,545 (could go tot 0,535)

Note

Here we go !!! - Target HIT !!!!

Made a re-buy at 0,5455 as predicted, and we're bouncing back up.
It is (very) possible that there will be a retest of the lows after the weekend even could go lower. I don't mind, my target is hit, trying to get every last bit is greedy and will get you recked. Anyway it wil bounce back if it does.
I did put in a tight stop loss sell order (improve only) as a "trailing buy order" to ride a bigger wave down should it come.

What's next ?

My next target, still following my original TA is a retest of 0,658 where I will put in my next "sell order (1% lower).
Beware of the 0,66155 resistance - this one is crucial !!! If breached and technically retested XRP will probably continue up (beware of fake-out)

Anyway, I expect a sell at 0,658 (-1%) and a retest of 0,578 (= Fib 0,236) where I will place my next buy order.

After this next sell will be around 0,74 (This wil be for a later analysis)

Trade careful - DYOR

Note

Thanks for the existence of trading apps with a "stop-loss with trailing (re)buy" option !!!

As I mentioned in my previous update, there would be a chance of a further decline after the wekend (a.i. 2 AM CET) and since I'm sleeping then I put in a SL at my previous re-buy at 0,5455 (-1%) and set up al "trailing limit (re)buy order at 2,5% to capture this possible drop (while sleeping).
XPR was ∞ the verge of loosing the 1D 200MA and the 1W Bollinger centre. And this is just what happened at 2AM CET

Good that I did... XRP grabbed the lower liquidity (and thanks to my trailing (re)buy order so did I).
It could very well go just al little lower - even candle to 0,38 (depending ∞ what Bitcoin does). - But I live it at that.

Classic XRP movement of grain lower liquidity and take out weak and fearful traders.
It will go back up.

Once it the market stabilizes, I'll get back to reviewing my next sell target (now still at 0,658) - But beware of the impact of communications about the Ripple XRP court case (Therefore I made this sell order a "trailing sell order".

Note

Bouncing up as expected, More signals needed to set the next target.
Possible that I put in an intermediate sell (again) at 0,5453 once the dust settles.

Trade closed manually

At this time my XRP trading activity is paused until the dust settles and things get more clear.
As it stands, thanks to my trailing (re)buy order I managed to grab the lower liquidity with a sell at 0,4420.

As I see it now we're at a crossroads around 0,51.

If It breaks upwards, my next sell is at 0,6445 with a re-buy at 0,5445 (black line)
If it breaks downward (it will drop to 0,43), I will do absolutely nothing and will wait... (purple line)

If I take the historical movements into account, there seems to be an affinity to the upward move.

The next few days will tell ...

Trade safely...

Trade active

Bang, just as I thought...

Target reached, sold again at 0,63 (to be safe)

Re-but target is set at 0,54 for now (I'll get back to that once it stabilizes)

Note

If it stabilizes here, I will buy back at 0,545 to be safe (could go lower)

Trade closed: target reached

Re-Bought again at 0,547 USD - so far my original analysis is still spot on.

Right now I will stop this thread, evaluate the situation further and start a new analysis soon.

Thanks for following, hope you all profited as much as I did from this ...

Note

Next up ?

A fake-out to +/- 0,615 USD followed by a massive spike down to possible 0,30 USD, then liftoff...

See you all in a new analysis comming soon ...

BartCr

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