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Ripplebtc

Hope For The Fallen Fanboys (XRP/BTC)Hell of a conference, wasn't it? There is still hope for a falling wedge pattern here for XRP. If you've already decided your XRP is trash (which it probably is) maybe you're willing to play the game? Just a guess, not investment advice. Buy 3700-3900 here sell 4100-4200. Buy 3500 and pray to god that line holds and breaks out of the wedge. Good luck, there is a lot of anger and depression after this "swell" conference, try to use it to your advantage. Keep in mind, its still in the accumulation zone and the conference is nothing but an anomaly causing the price to bump up (see my previous chart).
Long
by Brodie_MT
18
XRP update 2the rising wedge appears to have been broken to the downside. interestingly we see a last ditch bullish attempt which stopped after hitting the underside of the wedge, support became resistance. this could have also been a single large player fooling some bulls into buying into his shorts. this latest quick rise on btc, possibly breaking out of its pennant (more time to confirm) has sparked fear through the alt longs and greed in the alt shorts. even if btc is not truly breakout out yet, we got a good look at the current market sentiment, and the downward trend seems likely to continue. this could be currently showing in a small hidden bearish divergence in ripple's last attempt at a move up.
Short
by Yrat
XRP updateripple broke through my first rising wedge, but could still possibly be within another (bold blue line). watching closely for confirmed break. possibly short term bearish divergence battling a longer term bullish divergence. final result will most likely depend heavily on btc's next move, which seems increasingly likely to be further upwards. this would again place heavy selling pressure on ripple, which could drop back towards the lower resistance of the channel. looking to slowly open short positions towards the top of the channel/wedge.
Short
by Yrat
3
The Fear Before the Storm (XRP/BTC)I've put a couple charts together trying to compare the XRP current set up with the beginning of its previous bubble, but I feel like everything is coming together like a perfect storm; including the panic sells we saw on monday. I took the fib levels and tried to match them up with the previous initial run up to try and project the potential price targets for this run up before the Swell conference (Oct 16th). Based on the comparison, first we should see if we can break 7000 sats, followed by a fomo pump to 12000 sats, an immediate sell off as the conference begins (buy the rumor sell the news), and then if the conference has any significant revelations, the follow up pump to 20000 sats. 5 days left, lets see if XRP can separate itself from the pack. The price movement on bitcoin will obviously have a major effect on this chart, and if bitcoin does infact go to $6000 like so many people are forecasting, i imagine this chart will not work out. Let me know what you think, and good luck trading.
Long
by Brodie_MT
4