XRP : The 5th wave have not started yet, en route to $1.22
Updated
Hey! What's up guys?
XRP has not finished its 5th wave and to be honest with you, it has probably not even finished the 4th wave.
I have read a couple of analyses showing that we are entering an ABC12345 correction and I think that it is wrong.
Elliott waves theory:
To be in the retracement of the 12345 waves, it would mean that we would have started the first wave in the first black square, and it would imply the second wave retraced almost 100 percent from the first wave... Moreover, I cannot see any fractal of it... So, I do not believe in this scenario.
Instead, I think we started the first wave the 9th of April 2018 and ended it the 13th as per described in the first blue square (first fractal)
This first fractal shows the first soft correction and the start of the third wave and would imply a stronger correction represented by the fourth wave in the second square (in red).
In other words, we are in between the end of the fourth correction and at the beginning of the 5th wave.
As the third wave has been extended above 1:1, it reached 1.618 , we should then expected the 5th wave to reach $1.22 before the 6th of May 2018.
RSI theory
The RSI is very low at 30 and all the last fractals showed and uptrend move at this level
MACD
The 26 EMA is in the process to cross the 12 EMA.
The MACD showed that since the beginning of the first wave and at each impulsive wave, the lowest level of MACD was at -0,0065.
We are currently at -0,0065, so we should foresee an uptrend to at least +0,03
My analysis would be invalided if XRP goes below $0,72.
Do your own due diligence; I am not responsible for your investment.
Good luck trackers!
XRP has not finished its 5th wave and to be honest with you, it has probably not even finished the 4th wave.
I have read a couple of analyses showing that we are entering an ABC12345 correction and I think that it is wrong.
Elliott waves theory:
To be in the retracement of the 12345 waves, it would mean that we would have started the first wave in the first black square, and it would imply the second wave retraced almost 100 percent from the first wave... Moreover, I cannot see any fractal of it... So, I do not believe in this scenario.
Instead, I think we started the first wave the 9th of April 2018 and ended it the 13th as per described in the first blue square (first fractal)
This first fractal shows the first soft correction and the start of the third wave and would imply a stronger correction represented by the fourth wave in the second square (in red).
In other words, we are in between the end of the fourth correction and at the beginning of the 5th wave.
As the third wave has been extended above 1:1, it reached 1.618 , we should then expected the 5th wave to reach $1.22 before the 6th of May 2018.
RSI theory
The RSI is very low at 30 and all the last fractals showed and uptrend move at this level
MACD
The 26 EMA is in the process to cross the 12 EMA.
The MACD showed that since the beginning of the first wave and at each impulsive wave, the lowest level of MACD was at -0,0065.
We are currently at -0,0065, so we should foresee an uptrend to at least +0,03
My analysis would be invalided if XRP goes below $0,72.
Do your own due diligence; I am not responsible for your investment.
Good luck trackers!
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On a 30 mn chart, a triangle has been formed and it get corrected in ABC12345.The 5th wave will break the Aspex! Watch out!
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Here is more detail on the 30 min chart:-A bigger fractals starting the 29th of April and ending in a couple of hours
-The MACD is uptrending as planned
-RSI has bounced on the black support
We are on track!
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XRP (Ripple): Breakout imminent: tradingview.com/x/bNSVS69Y/ The support is generally tested two times before reaching the Apex and breaking out!!
We are on track for $1.22!!
#XRP #Ripple
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Here you can find more details about the situation on XRP:On the 45 mn chart and comparing between the 17th of April 2018 (before the breakout, third wave) and today:
We are currently in a move up channel, which is inside a Bullish Pennant.
The Apex is very close, which means that we should foresee a breakout this evening before midnight CEST.
KPIs identical between both periods:
RSI at nearly 50
MACD at nearl 0.0040
EMA 12 in ascending position
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BTC Short is going down, which is an excellent sign:Trade active
EMA 55 (in yellow) is about to cross EMA200 (in red), all good!Trade active
The breakout is happening :-)Let's see now if we can go beyond our regular 3 bars high.
Watch out RSI, volume and EMA 23 and 55 on the 3 min chart!!
Order cancelled
Order cancelled
Sorry for my ignorance at this stage - I was very new in technical analysis.
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