XRPUSD Seemingly Approaching Historic Bottom
Updated
XRP has been confusing as of recent but zooming out to the fist lower high of the peak back in the crypto bull run of Q4 '17, the trend seems to trace perfectly to this most recent price action, aligning two confirmation markers on the long trend coincidentally just as the price approaches said historical bottom.
If this trend is true, it signals a bottom occurring over the next ~30 days somewhere between where we are now, 0.18USD, and 0.16USD. I would predict that within ~2 weeks, the price will regain some lost ground and approach the 0.20-0.25USD range, a 61% increase in 8-10 weeks total.
This may be ripple's form of a last call. The second higher swing low on the AO, which confirms my last chart, signals a coming reversal of oversold to properly bought. Another reassuring confirmation of a bullish trend reversal is the fractal pattern with the lowest low in recent price action in the middle, and two higher lows on either side.
All of these signals combined with the typical buyer's sentiment associated with the start of the new year could mean a large price movement in ripple in the coming weeks.
Only time will tell.
If this trend is true, it signals a bottom occurring over the next ~30 days somewhere between where we are now, 0.18USD, and 0.16USD. I would predict that within ~2 weeks, the price will regain some lost ground and approach the 0.20-0.25USD range, a 61% increase in 8-10 weeks total.
This may be ripple's form of a last call. The second higher swing low on the AO, which confirms my last chart, signals a coming reversal of oversold to properly bought. Another reassuring confirmation of a bullish trend reversal is the fractal pattern with the lowest low in recent price action in the middle, and two higher lows on either side.
All of these signals combined with the typical buyer's sentiment associated with the start of the new year could mean a large price movement in ripple in the coming weeks.
Only time will tell.
Comment
Edit: The fractal patter has two lower highs from the last high fractal. What i originally stated was a typo.
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