I am Back with a Technical Analysis on XRP - Ripple as I hold some of it . My last graph had some sucess, so here is another one, its actually about the same as TRX so wasnt so hard, but still its kinda different. Today was a hard day for the cryptocurrency market, but no worries! Its just a great sale! For real, every January this market DIP happens :). So I told myself, I will do an Analysis on what is actually going on, I hopefully made it simple so anyone can understand it, learn something and find a good position! I really like thing that XRP is doing , I am definitely holding. It had huge breakout.. I had fallen from its ATH, but this is Actually really healthy! Almost perfect FIBB 61,8% retracement.
Back in the Chart.
We can see a Falling Wedge that has formed.
"The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout.
The falling wedge can also fit into the continuation category. As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns."
So we Have 3 ways, 3 posibilities, 3 scenarios. Green. First of all the Positive one, I am way bullish on this one. Classic ABCDE Breakout, approx. 135%, XRP has a strong name and great usability.. Cyan. The Boring One. It will just bounce from its support and form a channel. Can fall under support or break the channel resistance, but it will take some time, the breakout will happen for sure in some time. Red. The Nigtmare. Bad Volume . Big sell walls. Panic. We are Under the first support line. From there it will fall to second one, and stay in that channel for some time.. Could go down, Could go lower.. Very Unlikely to happen, I didnt really wanted to include this one but one never knows!
What more to say? Good Luck With Your Trading. Hope my analysis helped you a bit with your decision with XRP Ripple, consider leaving a Thumbs Up I really Aprreciate it :) If you have any questions feel free to ask in comments bellow, I am answering to every one of them.
Thanks!
*Nothing Important If you are not from Slovakia or Czech republic*
In short if you are curios what I am talking about, I am doing PPT presentation for anyone interessted but for now, only in my Mother language.
For People In My Country -
Budem robit Powerpointovu prezentaciu o Kryptomenach v Bratislave vo februari nakolko ma par ludi kontaktovalo ci by som bol ochotný nieco takéto urobit.
Prezentácia bude obsahovat nasledujuce body -
Co je to Bitcoin, ako ho nakupit a ako s nim obchodovat a kde s ním obchodovat, a co su kryptomeny ako take.
Ako si zostavit vlastny graf. Budem rozoberat rozne ukazovatele - RSI, FIBB, VOLUME, EMA, CANDLESTICKY, SUPPORT, RESSIST, TREND LINE a mnoho dalsich potrebných ukazovatelov. Vyjadrim sa ku altcoinom do ktorych som ja investoval, co maju na plane a preco som si vybral prave ich.
Taktiez budem rozoberat kedy sa oplati investovat a kedy urcite nie, co sa deje ked mena dosiahne ATH, kedy uzavriet poziciu a podobne zalezitosti.. nakoniec este bude cas aj na nejake otazky ak budu..
Vítaní su aj ludia z Ciech ak by bol záujem.
Vstupne je 150 euro. Myslim, ze tieto informacie maju aj vyssiu cenu, nakolko som tam nad premarnil neurekom bezsennych noci, citanim literatury pozeranim roznych videa a analytickych postupov po Anglicky.
V prípade záujmu píste sukromnu spravu tu na Tradingu. Dakujem.
Hello Sir, you mentioned that this happens every January. I am curious. When does the crypto market usually recover after the huge dip in January? How much time does it usually take to recover?
TiborVrbovsky
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@Nitinnishant, Hey! Yeah, its happens every January. Like a week or two.. by the end of the month it will be looking good. :)
cc247
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Thank you for the charts and info. Nice work. Keep them coming.
Hone stesti...
Hi, thanks for sharing your ideas.
I hope your forecasts are met.
I am supporting long term but I have some doubts if XRP recovered values higher than 2.5 without recovering Asian markets.
I remain optimistic regarding the recovery of BTC value that would push the entire market and in this case XRP has shown that it grows faster than other currencies.
I think another big fall of BTC would place XRP in a situation that has been compromised for a long time and that worries me.
Tks:)
jibran.macossay
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Thanks, me too i saw the analysis that useebeauty shows you think is it wrong? That guy Is saying the XRP price will have a deep drop. But yours are telling me the opposite, Is it right?
userbeauty
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Hi, there is another analysis that's pretty interesting. What do you think?
TiborVrbovsky
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@userbeauty, The Guy Has No Idea what is he doing, ABCDE wawe doesnt work like that, I dont see 1 reason XRP falling, It falled to that range because of Market Dip.. Lol even RSI on his graph is 40 It just cant go much lower.. There would need to be some huge FUD or XRP crashing as a technology..