HUGE Bullish XRP Signal, Not Seen Since B4 2017's 77,630% Gain!
Updated
Hi friends! Welcome to this update analysis on XRP! So, I want to bring your attention to something that I've noticed, with regards to the ADX and DI indicator, and the RSI here on the weekly XRP chart. Starting with the ADX and DI, you can see that I have four pink vertical trendlines on the chart. Those trendlines correspond to unique events that occurred on the ADX and DI indicator. As you can see, just before each pink vertical trendline, the red DI line crossed above the green DI line. Then shortly thereafter, the black ADX line crossed below the red ADX line and contacted the green ADX line. Each time that happened, we saw minimal downside continuation, with 239%, 165%, and 1612% gains within a few weeks to a few months respectively.
If we fast forward to today's price action, we can see that the exact same signal is setting up for the first time since February of 2017. Last time we got this signal, it was just before XRP had an EPIC 77,630% bull run. Looking at the ADX and DI graph, you can see that the red DI line crossed above the green DI line in August. Now, the black ADX line is crossing over the red DI line, and it's heading directly for the green DI line. So, we haven't actually gotten the signal just yet, but it should happen within the next few weeks. So, the XRP chart is quietly printing a massively bullish signal that has never been wrong in the history of XRP. And where is it happening? It's happening on the exact bottom of this massive uptrend log channel (in blue,) while XRP also forms a long consolidation base around the 0.25 area. So, we're in an area of massive long-term support, and we're printing a historically accurate bull signal, suggesting that massive upside could be right around the corner.
Looking at the weekly RSI graph, we can see that there is a very important lateral area of support, that has pretty much been held for the entire existence of XRP. That support level is right around the 37.40 area (red trendline.) As you can see, the RSI is currently at 39.43. So, it's hovering just above that long term support level. Interestingly, that is the exact level that was held before the 77,630% bull run in 2017.
With all of that beautifully bullish TA in mind, we can't lose sight of the fact that XRP remains in a bear market. We're still seeing lower highs and lower lows. While I do see evidence suggesting that a trend reversal could be close, we need to see that confirmed by the price. A massive rally could still be weeks or a few months away, but this chart suggests that it's on the horizon.
#PoopLovesYou
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
If we fast forward to today's price action, we can see that the exact same signal is setting up for the first time since February of 2017. Last time we got this signal, it was just before XRP had an EPIC 77,630% bull run. Looking at the ADX and DI graph, you can see that the red DI line crossed above the green DI line in August. Now, the black ADX line is crossing over the red DI line, and it's heading directly for the green DI line. So, we haven't actually gotten the signal just yet, but it should happen within the next few weeks. So, the XRP chart is quietly printing a massively bullish signal that has never been wrong in the history of XRP. And where is it happening? It's happening on the exact bottom of this massive uptrend log channel (in blue,) while XRP also forms a long consolidation base around the 0.25 area. So, we're in an area of massive long-term support, and we're printing a historically accurate bull signal, suggesting that massive upside could be right around the corner.
Looking at the weekly RSI graph, we can see that there is a very important lateral area of support, that has pretty much been held for the entire existence of XRP. That support level is right around the 37.40 area (red trendline.) As you can see, the RSI is currently at 39.43. So, it's hovering just above that long term support level. Interestingly, that is the exact level that was held before the 77,630% bull run in 2017.
With all of that beautifully bullish TA in mind, we can't lose sight of the fact that XRP remains in a bear market. We're still seeing lower highs and lower lows. While I do see evidence suggesting that a trend reversal could be close, we need to see that confirmed by the price. A massive rally could still be weeks or a few months away, but this chart suggests that it's on the horizon.
#PoopLovesYou
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
Note
The same signal also partially occurred during September of 2015, but it was mostly a convergence of all trendlines, and not a sequential red crossing above green, and then black crossing below red and into green. That's why I didn't include it as a signal. Regardless, there was still a 129% gain after that occurrence.
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