XRP in Wave 3 Dear Traders
XRP is in wave 3 which will move over 0.49 then will pull back to 0.4370 and in this rate we get ready for wave 5 which will lead the market to 0.5860
All the waves are clear in the chart. in Wave 1, the subwave 5 didn't pass wave 3 and this wave made it complicated. I was planning to count wave 2 as the subwave 4 of wave 1 which was rejected because subwave 4 couldn't cross subwave 1.
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Xrpprediction
XRP - 4h. Ripple came to life againAfter a week of trading in the XRP market , buyers still managed to take control of the local mark of $0.28 .
This mark caused a lot of problems for buyers, sending the XRP price on January 25 and re-test the range of $0.24-0.26.
However, the retention of buyers in this range provoked a new wave of growth , which broke the consolidation in the range of $0.24-0.31 .
As you can see in the chart, yesterday's fall in the price of BTC after the momentum did not affect the XRP market. Buyers confidently kept the price and today continued to grow with the goal of the test range of $0.36-0.38 .
Once fixed above this range will be a good opportunity to join the rise in price of XRP with a target of $0.46
However, won't bitcoin take all the attention again? See in our section "Bitcoin weekend"
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XRP - 4h. The level of $0.28 again plays a key role.After an unsuccessful attempt by buyers on January 10 to consolidate above the range of $0.36-0.38, the XRP market stopped consolidating.
A recent attempt by buyers to organize trend movement and consolidate above $0.31 failed. The critical point during this attack of buyers was the mark of $0.28 , which we wrote about in the previous idea :
The range of $0.24-026 has stood the test of time again and consolidation continues. The new attack of buyers continues at lower volumes than the previous time. Therefore, it is too early to talk about the breakdown of consolidation and the mark of $0.31.
At the moment, the price of XRP again stopped at $0.28 and is consolidating below it. If the price of BTC continues to put pressure on the range of $33400-3400 0 in the XRP market will occur shot to $0.31.
However, the situation is tense and sellers do not need much effort to resend the price of XRP to $0.24-0.26 . Moreover, if you look at the graph of the pair XRPBTC - the triangle formed has almost the same chances of a shot both up and down.
Therefore, for a short-term trade, we expect to fix the price above $0.28.
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
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XRP-4h. Below $0.28 sellers will launch an aggressive attack.The initiative of buyers in the XRP market is in jeopardy. From December 30, buyers try to control the price of XRP without lowering it below the white trend line . Fixing prices above the range of $0.24-0.2 6 brought the XRP market back to life.
However, several unsuccessful attempts by buyers to break the $ 0.31 mark increase the likelihood of re-testing the $0.24-0.26 range .
The critical point for this scenario is $0.28. While the price of XRP is above this mark, buyers have a high chance to break $0.31 and continue to grow to $0.36-0.38.
While the price of BTC is above the range of $ 32000-33000, the XRP market has a high chance of continued growth.
Below $0.28, buyers will have to defend themselves seriously.
Is there a chance that the price of XRP will continue to rise above $0.36? See our previous idea.
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!