XRP/USD ALMOST AT THE END OF THE WEEKLY CHART BEAR RUN...::: THIS IS A WEEKLY CHART !!! :::...
XRP/USD is coming to the end of it's bearish run on the daily, but still within the triangle on the weekly chart.
Price action is nearing completion of the Level 2 move (2-1, 2-2, 2-3), which will then start the Peak Formation Low (PFL) move which is a Level 3. No doubt, going by past market structure, manipulation will be constant and keep the price at a consolidation zone in order to frustrate the market even more. I'm expecting a 3 legged W formation before the first fake breakout of the triangle structure, as noted on the chart. Manipulation will continue before the final drop, which should complete and confirm a level 1 base before launch anywhere between December 2019 ~ February 2020. My opinion is that they will launch towards the middle or end of January 2020 to complete the level 1 move and start on a level 2 move around 0.42 cents. From level 2 to PFH (@ 0.58 cents), could be very fast or drawn out. Note that all of the EMAs are starting to fan out, which signals preparation for a reversal of trend.
When we look at the TDI indicator at the bottom, it also shows we are approaching the oversold area, with RSI approaching the lower outer band. I'm expecting the market will push the RSI downwards a little more, to form a sharkfin before the uptrend starts, breaking out of the triangle structure. The fast EMA (the red line within the TDI indicator) should also follow RSI, although I'm expecting it to touch the lower band (blood in the water), coinciding with the sharkfin pattern. I believe the sharkfin blood in the water pattern, may occur around October 2019 (next month), so we will most likely see lower pricing, possibly around 0.20 cents USD, before the bullish trend starts properly.
I've marked this chart conservatively because in the last 12 months, the chart shows that the XRP market conditions are highly manipulated to the extreme, not following normal psychological and normal buying patterns, coupled together with Ripple dumping huge amounts of coin into the market, out of their escrow wallets, no doubt to keep current pricing low and within the triangle structure. Yes, 1000% this coin is manipulated by ripple themselves. Why? who knows... especially because the higher value that XRP has, would facilitate xrapid and other transfers with XRP and would help increase market sentiment... so in my opinion, its non sensical... but once this current manipulation has run it's course, we should see a very strong uptrend, possible gaps in prices from candle to candle, within the 4 hourly to daily chart. My guess is that we should see XRP arrive, at least $150 to $200 by June 2020. Does this sound far fetched? possibly, but possibly not. Time will tell, the chart never lies.
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DISCLAIMER:
These are my analysis, my opinion, I give no guarantees and I'm not responsible for any losses that you may occur if you trade this, whether you buy crypto or trade it in the CFD market. If you want to trade this chart, do your own analysis and make sure you have a good money management plan in place. If you want to learn more about trading, here is a good place to start: babypips dot com
I generally post my own analysis in BTMM format, although I am proficient in Crypto Patterns, Gartleys, Butterflies, Pattern Trading, Elliott Wave Trading, Pitchfork , Trendline , VSA and Price Action trading, for which I may from time to time post additional analysis including some of these other methods.
I don't answer to bullies, trolls or charlatans. I don't have time to debate you so if you write babble, I will ignore you. Post a proper analysis, but don't post a blank chart with words or claim you are a 'WE' and have some magical algorithm or secret, then I might answer you. I'm posting this chart here for my own personal record and to share with those that may appreciate it, with the hope that it can help someone.
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