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Unveiling the Falling Wedge: XRP Short-Term Boon Unveiling the Falling Wedge: A Short-Term Boon on the 4-Hour Chart In the fast-paced world of day trading, identifying short-term opportunities is crucial. The falling wedge, a technical chart pattern, emerges as a valuable tool for traders seeking to capitalize on price movements within a specific timeframe. This article dives deep into the falling wedge, exploring its characteristics, how to identify it on a 4-hour chart, and strategies to leverage it for short-term gain. Understanding the Falling Wedge The falling wedge, as the name suggests, is a bullish reversal pattern. It's formed by two converging trendlines, with price action creating lower highs and lower lows, but at a decreasing rate. Imagine a wedge shape being squeezed from top to bottom, with the narrowing gap hinting at a potential price reversal to the upside. This pattern signifies a period of consolidation where bears (sellers) are gradually losing momentum. While the price continues to fall, the decreasing distance between the trendlines indicates diminishing selling pressure. Bulls (buyers) start to accumulate, anticipating a potential breakout and price increase. Identifying the Falling Wedge on a 4-Hour Chart The 4-hour timeframe offers a sweet spot for day traders, providing a balance between short-term volatility and clear trend direction. Here's how to identify a falling wedge on your 4-hour chart: 1. Trendline Construction: Draw two trendlines, one connecting the swing highs (peaks) and another connecting the swing lows (valleys). Ensure both lines are sloping downwards, forming the wedge shape. 2. Convergence: Observe how the trendlines converge as the price action progresses. The closer the trendlines get, the more likely a breakout becomes. 3. Volume Confirmation: While not a definitive indicator, an increase in trading volume accompanying the price move towards the wedge's apex (point of convergence) can strengthen the breakout signal. Key Points to Remember: • The duration of the wedge formation doesn't have a set timeframe, but longer wedges tend to have stronger breakout potential. • The tightness of the wedge (how close the trendlines are) also influences the potential force of the breakout. Tighter wedges generally suggest a more explosive move. • False breakouts can occur, where the price pierces the lower trendline only to fall back within the wedge. Proper risk management is crucial in such situations. Strategies for Short-Term Gain Once you've identified a valid falling wedge on your 4-hour chart, here are some strategies to exploit the potential short-term gain: 1. Breakout Entry: Enter a long position (buying) once the price decisively breaks above the upper trendline. This breakout signifies a reversal in bearish momentum and a potential price increase. 2. Price Target: Set your initial profit target at a level equal to the height of the wedge. Measure this distance from the breakout point and project it upwards. 3. Stop-Loss Placement: Place your stop-loss order below the lower trendline of the wedge. This limits potential losses if the price falls and breaks the support level. 4. Trailing Stop-Loss: Consider employing a trailing stop-loss as the price moves in your favor. This adjusts your stop-loss automatically, locking in profits while allowing for some price fluctuations. Additional Considerations for Success While the falling wedge offers a promising setup for short-term gains, remember that successful trading requires a holistic approach. Here are some additional factors to consider: • Market Context: Analyze the overall market sentiment and any relevant news events that might influence the price action. • Technical Indicators: Combine the falling wedge with other technical indicators like Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD) to confirm the breakout signal. • Risk Management: Always prioritize risk management by using appropriate stop-loss orders and position sizing. Understanding the falling wedge and the strategies discussed empowers you to identify potential short-term trading opportunities on the 4-hour chart. Remember, consistent practice, a balanced approach, and proper risk management are key ingredients for success in navigating the ever-evolving world of day trading.
BITSTAMP:XRPUSDLong
by bryandowningqln
DUMP These LOSER ALTCOINS (•_•)This post is not aimed at meme coins but instead at projects that were once titans in the crypto space, or coins that just didn't live up to their fundamental promise. I'm not saying you can't win with these coins, you can obviously win with any coin if you swing trade when there's volume. This post is more aimed at bag holding - and the future prospects of your investment. 1) HBAR Unfortunately, HBAR had a great idea but didn't succeed in securing market dominance. The other factor to consider here is that HBAR was never created to be a speculative coin, but instead to be used on the native blockchain in software solutions. Similar to XRP, this makes me wonder if the team just used the asset for liquidity to finance business projects. 2) XRP Ahh, Cripple. Love to hate it. This one needs no introduction. Foul play and forever unable to reclaim it's status as a trust-worthy asset. 3) LTC I've been bullish on Litecoin for a long time... perhaps too long. Made some profits on it, but I'm afraid the higher TP points aren't looking reachable any time soon. Similar to CRV, it's healthy to know when to jump a sinking ship. Both have evolved way past their original form and there is just no use case that could justify new ATH prices. 4) ADA I've said it before, and I'll say it again - I don't have faith in altcoins (NOT TALKING ABOUT MEME COINS) that lose more than 85% of their ATH. I'm more specifically referring to the titans/giants. Rugs these days could do -99% in a day - that's not what I'm looking at here. These were projects that boasted loud about their fundamental usecase and set ridiculous targets for itself. (Remember how Chris Larsen said XRP CAN'T be under $1?) Welp, he's not the only one that oversold his coin and took the market for a fool. 5) ALGO I'm divided on this one. Perhaps if you give it your best shot, you may still change my mind. But the chart looks terrible - nowhere near previous ATH and shows no sign of getting there any time soon, either. You can really see how these coins got left behind if you compare them with Bitcoin. Overlay any of these with the BTC chart, and you get something similar to this: Again, you could swing trade these - but bag holding and hoping for better days are counterintuitive to the fast-moving pace of cryptotrading. Make sure you follow to receive the latest updates! ______________________________ BINANCE:HBARUSDT BINANCE:XRPUSDT COINBASE:LTCUSD BINANCE:ADAUSDT COINBASE:ALGOUSD
BINANCE:XRPUSDShort
by CryptoCheck-
13
XRP Price Danger Zone: Key Support Levels to WatchRipple's (XRP) price has seen a significant decline after failing to maintain the critical support level at $0.4840. This drop led the currency to fall to the $0.4750 level, raising concerns among traders about the possibility of further losses in the near future. XRP has faced strong selling pressure, causing it to trade below the $0.4880 level and the 100-hour Simple Moving Average (SMA). With continued bearish pressure, it has become essential to closely monitor key support levels such as $0.4740 and $0.470. If XRP manages to hold these levels, we might see attempts to regain some bullish momentum. However, breaking below these levels could indicate further declines towards the next support level at $0.450. This article will focus on analyzing the current situation of XRP's price, highlighting the important support and resistance levels that traders need to monitor carefully to protect their capital and avoid potential risks. Resistance Levels: First resistance level: $0.4820 Second resistance level: $0.4850 Key resistance level: $0.4950 Next resistance levels: $0.5050 and $0.5250 Support Levels: First support level: $0.4740 Second support level: $0.470 Next support level: $0.450 Current Trend: The currency is currently trading below the $0.4880 level and the 100-hour SMA. There is a downward trend line forming with resistance at $0.4880. Buying at Support: It is preferable to wait until the price reaches the key support levels ($0.4740 and $0.470) before making a buying decision, as these levels represent strong support points where the decline is expected to halt and the price might start to rise again. Buying at these levels can provide an opportunity to acquire the currency at a low price, increasing the likelihood of achieving profits when the price rebounds upwards. This way, risks are minimized, and the chances of benefiting from future upward movements in the market are increased. Taking Profits at Resistance: In case of a price rise, the mentioned resistance levels ($0.4850 and $0.4950) can be identified as areas to take profits. Resistance levels are points on the chart where the price is expected to face difficulty in continuing to rise, and it might stop or decline due to a large number of sellers willing to sell at these levels. Therefore, when the price reaches these levels ($0.4850 and $0.4950), traders can decide to take profits from the purchases made previously at the support levels. This helps secure their profits before the price declines again. It is important to monitor price movements around the $0.5050 level, as this level is considered a key resistance. If the price exceeds this level and stabilizes above it, it might indicate strong buying momentum and continued upward movement. In this case, the price is expected to rise towards the next resistance level at $0.5250, providing an additional opportunity for greater profits. Hence, monitoring price movements around these important levels can help traders make informed decisions regarding taking profits and managing their investments effectively. Risk Management: If the price breaks the $0.470 support level and closes below it, it might indicate further decline towards $0.450. In this case, stop-loss orders should be placed below the $0.470 support level to avoid further losses. Caution and effective risk management are crucial to avoid significant losses in case of any sudden market fluctuations.
BITSTAMP:XRPUSD
by bbitar
XRP will highly likely go to 6-8 USD soonI have to say that I almost finished my analysis but somehow my page got refreshed and it got lost.. So I will summarize what I wanted to say: Pattern recognition is important and are (magnified) copies, and following signs are bullish: * Compare the blue and pink rectangulars * we are hovering above the 200 ema * if we have a break-out of the pink rectangular, we will probably hang below the yellow descending trendline * If we break-out we will most likely see very rapidly ATH or 3-3.2 usd First bullrun around end of 2017 was around 1600% which will be repeated from this level 0.48-0.5 usd.. which results in a level of around 8 usd or exactly the 2.618 FIB level ! I might think a 3th wave will pass the 3 usd level to come back as support in a 4th wave and meet the 6-8 usd in a 5th wave. On a macroeconomic scale it looks all clear and the graph is quite clean for a run-up after a long 6 years consolidation! I think there is much momentum made as we didn't have a ATH in previous bullrun after covid. So the potential is enormous as XRP has a decent bottom and support around the 0.3-0.5 usd level. Also remember when there was a crash in USDT several years ago..everyone ran into XRP which was quite atonishing. It is somehow a reserve currency and could take out ETH in the a second spot which it did already briefly in jan. 2018 ! I foresee a bullrun like end 2017 with a start after 2nd quarter, so end of June this year... which will have a peak again at the end of this year.
BITSTAMP:XRPUSDLong
by Wolverinos
6
XRP is bullishXRP structure looks bullish on hourly time frames. We have a bullish iCH on the chart and the trigger line is broken. By maintaining the demand, it can move towards the targets. Closing a 4-hour candle below the invalidation level will violate the analysis. Note that the financial market is risky, so: Do not enter any position without confirmation and trigger. Do not enter a position without setting a stop. Do not enter a position without capital management. When we reach the first TP, save some profit and try to move the stop continuously in the direction of your profit. If you have any comments please post them, comments will help us improve our performance Thanks
Long
by iMoneyTeam
More BAD NEWS for XRP !!BINANCE:XRPUSDT & BINANCE:XRPBTC The price has lost a long-standing trendline which acted as support, a bearish sign for the foreseeable future (until we can reclaim daily candles above): XRPBTC is about to head for previous lows, during which time the price of XRP was 0.23c: This further supports my suspicion that XRP may be heading back to the 0.20s, as seen here: It is, however, important to note that each time the XRPBTC hits the bottom of a triangular consolidation, there is a small increase in the price. This could mean that we see another leg up before dropping lower: as you can see from the chart, we are now nearly back at XRPBTC level's that lead to the previous parabolic pump. Will this time be the same? I don't think so. XRP has been showing extreme weakness. However, it never hurts as a small part of a diversified portfolio... just for incase. __________________________
Short
by CryptoCheck-
Will XRP rebound from the lower border of the channel?Hello everyone, let's take a look at the XRP to USDT chart on a 4-hour time frame. Let's start by defining, using white lines, a sideways trend channel in which the price moves at its lower border. Let's start by determining the support and as you can see, first of all, as support, we have a support zone from $0.50 to $0.45, when the price drops below this zone, the next support is at $0.37, and then support at the price of 0.32 $. Looking the other way, we can see a resistance line at $0.58, then at $0.62, the third resistance at the upper border of the channel at $0.69, and then we can see an increase to around $0.84. When we turn on the EMA Cross 50 and 200 indicator, we can see how the yellow line tries to cross the blue line at the bottom, which would indicate entering an upward trend.
Long
by cryptodailyuk
XRP: Approaching ResistanceTrade setup : Price is in a downtrend. Price needs to break above stiff resistance area: horizontal $0.55 resistance and 200-day moving average (~$0.58) to resume an uptrend. Pattern : Price is Approaching Resistance, which is a level where it could pause or reverse its recent advance, at least temporarily. Resistance is often a level where price got rejected in the past, or potentially prior Support level that was broken. (concept known as polarity). Once price breaks above resistance, it can advance higher to the next resistance level. Learn to trade key levels in Lesson 7. Trend : Short-term trend is Up, Medium-term trend is Down and Long-term trend is Strong Down. Momentum is Bullish (MACD Line crossed above MACD Signal Line) ABOVE days ago. Price is neither overbought nor oversold currently, based on RSI-14 levels (RSI > 30 and RSI < 70). Support and Resistance : Nearest Support Zone is $0.50, then $0.42. Nearest Resistance Zone is $0.55, then $0.65.
Long
by altFINS
Check for support around 0.5236-0.5384Hello traders! If you "Follow" us, you can always get new information quickly. Please also click “Boost”. Have a good day. ------------------------------------- (XRPUSDT 1D chart) The most important point on the XRP chart is the 0.47 point. This is because if it falls below 0.47, it is expected to enter the bottom range from a long-term perspective. Therefore, the price should be maintained above 0.47. Since the M-Signal of the 1M chart > M-Signal of the 1W chart > M-Signal of the 1D chart, it shows a downward trend. Accordingly, the key is whether it can receive support and rise around 0.5236-0.5384. If it fails to rise, caution is needed as it is likely to touch around 0.47 again. If the HA-High indicator is supported and rises, it is likely to renew the previous best high. Therefore, it is time to buy whenever it rises above the HA-High indicator on the 1D, 1W, and 1M charts and shows support. If it is not supported by the HA-High indicator and falls, it will be time for a split sale, so caution is needed in response. One thing you must think about before you start trading is your investment horizon. If you do not decide how long you will invest for, you may not be able to respond properly when prices fluctuate, so you must decide on the investment period. Next, you must decide how much to invest and how to trade or realize profits. No matter how long-term you invest, you must sell when the price rises to a certain level. There are three ways to sell: selling 100%, selling a portion, or selling an amount equivalent to the purchase principal to increase the number of coins (tokens) corresponding to the profit. The method of increasing the number of coins (tokens) corresponding to profit by selling an amount corresponding to the purchase principal ultimately ends up holding only the number of coins (tokens) whose average purchase price is 0. Therefore, there is absolutely no risk associated with holding it. Have a good time. thank you -------------------------------------------------- - The big picture The full-fledged upward trend is expected to begin when the price rises above 29K. This is the section expected to be touched in the next bull market, 81K-95K. #BTCUSD 12M 1st: 44234.54 2nd: 61383.23 3rd: 89126.41 101875.70-106275.10 (when overshooting) 4th: 13401.28 151166.97-157451.83 (when overshooting) 5th: 178910.15 These are points that are likely to encounter resistance in the future. We need to see if we can break through these points upward. Since it is thought that a new trend can be created in the overshooting zone, you should check the movement when this zone is touched. #BTCUSD 1M If the general upward trend continues until 2025, it is expected to rise to around 57014.33 and then create a pull back pattern. 1st: 43833.05 2nd: 32992.55 -----------------
by readCrypto
2
XRP cool opportunity🚀 Hey traders! Let's dive into an exciting opportunity on XRP. It appears that XRP has been forming a triangle pattern since 2017. This signals potential for a significant breakout!🚀 🎯 Buy-In Levels: 0.5 - 0.6 🎯 Considering the current market dynamics, it might be a strategic move to accumulate XRP within the range of 0.5 to 0.6. These levels offer favorable entry points for traders looking to capitalize on the impending breakout. 💰 Profit Targets: 0.93 - 1.23 - 1.57 - 1.89 - 2.8 💰 Once XRP breaks out of the triangle pattern, we anticipate notable price movements. Set your profit targets at 0.93, 1.23, 1.57, 1.89, and 2.8 to secure gains at various levels. 🛑 Stop Loss: Below 0.13 🛑 As with any trade, risk management is crucial. Place your stop-loss orders below 0.13 to protect your capital in case the market moves against us. Remember, trading involves risks, so always perform your own analysis and use risk management strategies. Stay informed, stay disciplined, and seize the opportunities! Happy Trading! 🚀 Thanks for Your attention 🫶 Always sincerely with You, Kateryna💙💛
BITSTAMP:XRPUSDLong
by RocketBomb
3
CAN WE FINALLY START IT? XRPThis week is very important for the Ripple legal case, and some millions are moving from Ripple. Can this be a sign of an agreement with the SEC? Last year, a positive new has pumped the price of XRP to $0.9. This time, also considering the actual Bitcoin price, i think that an end at the case can teleport the XRP price to a new ATH. Personally, i am increasing my long exposure, keeping a safe stoploss below 0.25. Risk to reward (0.25 SL, 3.5 TP) is again extremely good
Long
by SaliJournal