Elliot wave
Updated
Self explanatory... will add more later... sorry for lack of time to share my idea. More of an add on from my previous chart, should be linked.
Trade active
Saw the opportunity to increase my position in xrp yesterday when it was at $.86 cents. Made this drawing b/c I started to see a pattern once it dug out of the hole. To fully break the down trend I believe xrp has to break $1.80 mark again, then follow a small pullback/profit takers. After that move xrp must then break the psychological $2 barrier again. Followed immediately by testing that big $2.10 resistance from last time. If the volume is there I believe this time around it could do just that only time will tell. As of now the RSI is still above 50 on the 4hr chart and the MACD just made a nice bull cross. With the Chinese new year making all the markets bloody I think this is the road to recovery for XRP.
Barring any big news I believe it should follow this wave form again. Days might be slightly off as this was a quick drawing.
This coin has a ton of scalability and real world use. I would not be surprised if it shot up more than this at all.
Note
Look for the pullbacks to increase your positions!Note
As always keep an eye on BTC. Even though this coin has great potential it hasn't broke away from BTC yet. If btc drops just follow closely and buy the dips and ride the waves up! Eventually it will show it's strength and independence from BTC.Happy trading. And of course #hold !!!!
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