XRP trade ideas
XRP mkt cap bullish ascending triangle (10% increase to come)This ascending triangle on the XRP mkt cap chart indicates a bullish sentiment of increasing market cap is on its way. The accumulation pattern, regardless of where it forms, is usually a signal of impending bullish movement. The projected market cap target is equal to the height of the height of the triangle, which is equivalent to a 10% movement. Upon penetration of the upper resistance, we expect the market cap to move up a whopping 10% -- adding the widest part of the triangle to the breakout position. This pattern is considered to be valid by us because both the upper resistance and lower support of progressively higher lows has been touched at least twice.
The Big RippleElliot wave theory at work. Expect ripple to level off for a bit and start an upward turn.
XRP is now flirting with a new paradigm.XRP has officially broken it's long term symmetrical triangle (Light blue). This chart breaks down XRP's market psychology from it's previous peak to where we now find ourselves. Each color is a different phase, with Red being the bloodiest, and blue seeing the market largely freeze over. What I'm saying is the color choices are poetic. Orange, everyone was furious, yellow the market was in fear, but now winter has come and gone. Now's the time when springs are sprung.
In all seriousness though, the blue trend is a 'conservative' prospect of what price movements will look like in the coming month, with purple/dark violet being the more optimistic trend. Regardless of the immediate trend, it's pretty clear XRP has officially begun it's bull run.
XRP/USD Touched $0.3329 but failed to hold groundOn the intraday charts, the initial support for XRP/USD comes at $0.3350. It is created by SMA100 (30-min) and SMA50 (1-hour). Once it is cleared, the downside may be extended towards 61.8% Fibo retracement at $0.3220. This area is likely to slow down the sell-off. However, a sustainable move lower will expose psychological $0.3200 and the Sunday’s low $0.3175.
On the upside, the initial resistance is created by a confluence of SMA100 (1-hour) and SMA50 (4-hour) at $0.3280. It is followed by a psychological $0.3300 and the recent high of 0.3329.
The price slipped back into the mundane trading range of 2019 after bulls failed to maintain upside momentum. Ripple may have a hard time as banking and high-tech giants enter the market. Buy About 0.2750 level first traget 0.3300 level and final target 0.3550 Area.
On the Downside, XRP/USD break 0.2550 level then sell XRP first target 0.2400 and 0.2200 Area. Another sell position XRP touch 0.3550 level Sell XRP/USD target 0.3200 and 0.2700 level.
NEWS:
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** Google Play and Apple Store users will soon have access to XRP-backed payments.
** XRPayments has the ability to convert all the supported smartphones into Point-of-Sale (PoS) system.
** XRP users report on crypto ATM in New Jersey that supports XRP transactions. CryptoMedia News Desk uploaded a video where a user buy some
XRP coins with his debit card and send them to TrustWallet wallet.
** Ripple as a blockchain startup has been successful in promoting its cross-border payment solution with numerous partnership deals with such
financial heavy weights as Banco Santander, Western Union, and UAE Exchange.
XRPUSD breakout coming soon?XRPUSD made a small breakout supported by great volume of the yellow trend line.
Now retesting the red support line (RSI getting more oversold).
This support line needs to hold, if this line breaks we probably will see lower lows.
After retest there is a chance we will see an attempt to break the purple trendline.
When there is a full breakout above the cloud we will see full bull confirmation.
Top 2 Alts PatternsETH and XRP have very different value propositions and use cases, nevertheless together they represent, at the moment, a bit less than 20% of the Total Market Cap.
If we merge their Market Cap we can see they already broke out from a descending wedge and this Top2 is now fighting for another breakout from an ascending triangle. Anyone monitoring the cryptocurrency market for the last 6 months knows that XRP and ETH are lagging more than other mid-caps, like LTC or EOS but probably not for much longer. We definitely need to keep watching this two…
Especially because in the last 480 days their Market Dominance formed a symmetrical triangle and a breakout or breakdown may happen in the coming days/weeks.
XRP ShortXRP bearish interest.
:)
All our Forex trade setups are speculative and not guaranteed, ideas and analysis of a chart belong to charts34T ; - it is not a market advice. You are responsible for your own account.
Long when close above 50 EMAThree bottons with the last higher low. If close above the 50 EMA breaks also the downward trend line
XRP surprises with a good news, doesn't it?While BTC is scaring us with a falling market cap, finally we have some good news from Coincheck . As it continues to get back its ten months position after it suffered a crippling breach that cost the exchange over half a billion dollars.
According to the news from 27th of September, According to a press release sent out today, Coincheck will be resuming trading services for both XRP and Factom (FCT). What does it mean for us? That the exchange is now fully operational and making all of its previous trading pairs once again available to the public.
XRP did not suffer so much as for example it happened with BTC or ETH. And we already can observe that XRP is strengthening its position. Now there is a +2,95% growth of XRP price towards USD.
So there is a chance that next 24 hours we can see the growth of 2-3% range with such a news released.
TOTAL BREAK DOWN...XRP has broken down after the stagnation for a long time in the face of major crypto sell-off that saw almost all the coins falling off the cliff. XRP/USD is down nearly 8 percent on the day at $0.346, after hitting as low as $0.3315.
XRP has been a relative outperformer in this recent sell-off and bulls have been able to hold on to in the face of this massive crash. To take an example of Bitcoin, which has fallen 42 percent from this month, compared to 24 percent in XRP.
XRP was trading at $0.40986 by 21:06 (02:06 GMT) on the Investing.com Index on Friday, down 11.15% on the day. It was the largest one-day percentage loss since October 11.
The move down pushed XRP's market cap down to $16.71906B, or 12.09% of the total cryptocurrency market cap. Highest point for XRP's market cap was $79.53400B.
During this week, XRP has seen a drop in value, as it lost 12.72%.
At its current price, XRP is still down 87.54% from its all-time high of $3.29 on January 4.
To sum up, During previous 24 hours. XRP had traded in a range of $0.40986 to $0.43275 , which is leading to the sad conclusion, that it will continue to fall or stay in this range during next 24 hours.
