XRP Update: Full Analysis & 8X LONG Entry LevelsThe 3-Feb. low has been pierced. Notice the same chart with the same numbers extracted months ago. This is important because the action keeps happening around those levels.
XRPUSDT moved below the 3-Feb. low/support but closed above it. Then it was challenged again yesterday but the session ended as a higher low compared to 7-April and green. This means that the low is in.
We have a technical double-bottom and a long-term test of support. More than four months of sideways action. The stage is set for bullish growth.
We are already ready and active here with an 8X LONG. Entry levels go from $1.75 to $1.96. Just sharing for your info and convenience.
Yesterday's session was full green and negated the two sessions preceding it. This is a shakeout or stop-loss hunt event. This is a bullish signal if we see it as a failed signal. Bears tried to push prices below support but failed. Another way to look at it; XRPUSDT is trading above support and within the bullish zone. Both are good and pointing toward higher prices.
The weekly timeframe reveals a hammer candlestick after the lowest price in months, since November 2024. See here:
The hammer is an early reversal signal. Once confirmation is in, a change of trend is confirmed. Confirmation comes when several sessions close green after the signal shows up.
Finally, we have marketwide action and related markets.
Cardano produced the same pattern but with a higher low in April rather than a lower low.
Bitcoin is bullish and strong, trading back above 80K.
Nvidia is bullish as well as the SPX. So the correction is over and this is a valid, informed, wise and logical assumption, because the market was down for more than four months.
XRPUSDT has beeen clearly sideways, it still is. But sideways means no growth.
So, a rise starts in early November 2024. It reaches maximum momentum in early December and then slows down but still grows. Going a bit higher in early January and then a minor correction phase. The correction produces a low followed by another low, double-bottom; the main move is a bullish jump starting in November. This is the move that is being corrected and consolidated. Once the action resumes, it will resume what was already happening. Up.
If the market was bearish and set to move lower and continue lower, we would be seeing a steep decline, lower highs and lower lows. Instead, we have a perfect sideaways pattern which tends to show up before additional growth.
XRPUSDT will grow strong, mark my words.
The time is now. Mange your risk but feel free to go LONG (experts only).
The rest of the participants can accumulate (buy) like it is the end of the world.
You should be buying now; buy, buy, buy... Once the action resumes, there is no going back. This is your chance.
We caught the late 2024 bullish wave, we will also catch this one; and then next and so on ad-infinitum.
Thanks a lot for your continued support.
It is my pleasure to write for you. We've been trading XRP together since December 2017.
It has been a great ride.
Feel free to follow me.
Namaste.
