Long

XRP - 2 Week Gaussian Channel

Updated

The last two times the gaussian channel flipped from red to green, xrp had parabolic rises.
(orange arrows)
This flipping from red to green also led to market cycle tops. (orange circle)

Will this time be the same?

Currently the channel has been red for the last 336 days, and we haven't reached bitcoin's halving event yet.
Will the gaussian channel flip to green before the halving event?
Or will it be like in 2016 and 2020, where it flipped to green 300ish days after the halving event?

Note

The first 2 times the gaussian channels were red, xrp didn't find support onto the middle band until just before it switched from red to green.
The purple arrows indicate the areas where xrp found support on the middle band while they were red.

Does this mean the gaussian channel is about to flip to green?

Also, xrp has never flipped from red to green before the bitcoin halving event.
Will this time be different?

Trade active

CHECK THIS OUT!
Xrp on the gaussian channel flipped from red to green on the 2 week chart.
This is exciting because the gaussian channel has been red since November of 2022.
The last two times it went from red to green, xrp reached its blow off top for the cycle.
Xrp's price is riding on top of the mid line, and the next step is to break out of the gaussian channel. The top of the channel is around 73 cents.

Trade closed: target reached

Tradingview will only allow me to update this post one last time.
I'm assuming it's because I created this thesis over one year ago.

Price has finally broken out of the gaussian channel and hit resistance at the previous closing high of $1.53 reached in 2021. (yellow horizontal line)

The next resistance level should be $2. This was the all time high's closing price. (white horizontal line)
Breaking above two dollars is key because xrp has been in a six year downtrend, making lower highs.
The only way to reverse this downtrend is to find support above $2 and then battle the all time high.

The final resistance will be $3.35, which was xrp's all time high reached in 2017. (purple horizontal line)
If xrp can break above $3.35 and find this level as support, then xrp will be in price discovery.
There is no resistance level above $3.35, so price could go parabolic and reach its blow off top shortly after.

I need to repeat this - keep an eye on $2.
There may be a lot of resistance, rejection and testing at this level.

babychester

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