I'm beginning to have hope for XRP
For as long as I have owned XRP (at this point nearly a year of being all-in) I have been thinking "XRP sucks" and it does and has but that doesn't mean it always will...
What I see right now is a bull flag forming at resistance under the 21 weekly EMA, and that can be taken as bullish as long as it does not dump the other way, which I don't think it will considering BTCUSD just surpassed 9000...
This hasn't happened yet in the history of this chart, and that along with the the fact that XRPBTC has been consolidating for weeks after reaching a low of 2365 and a high of 3779 on binance where it is sitting now at 2558 satoshis, I think we are about a week or two, or 3 at the most before XRPBTC turns bullish and XRPUSD turns mega-bullish. Unless of course XRPBTC makes a lower low, but I genuinely doubt it will since it has been in consolidation for 14 weeks now since reaching the top of 3779 on the binance chart.
I did not sell when a year ago XRP was at $0.50 and I did not sell when XRP went from $0.21 to $0.31, and I don't think I will sell until we see another rally like the one that happened 2 weeks after I entered the crypto market during December of 2017, when every crypto went 7-8x dollar value (at least) and XRP made 15X gains, going from $0.22 (which funnily is exactly where we are now) to $3.30.
If another bull market were to happen I really doubt we will ever see these prices again, in the same way $20 or $200 Bitcoin is no longer seen now.
What I see right now is a bull flag forming at resistance under the 21 weekly EMA, and that can be taken as bullish as long as it does not dump the other way, which I don't think it will considering BTCUSD just surpassed 9000...
This hasn't happened yet in the history of this chart, and that along with the the fact that XRPBTC has been consolidating for weeks after reaching a low of 2365 and a high of 3779 on binance where it is sitting now at 2558 satoshis, I think we are about a week or two, or 3 at the most before XRPBTC turns bullish and XRPUSD turns mega-bullish. Unless of course XRPBTC makes a lower low, but I genuinely doubt it will since it has been in consolidation for 14 weeks now since reaching the top of 3779 on the binance chart.
I did not sell when a year ago XRP was at $0.50 and I did not sell when XRP went from $0.21 to $0.31, and I don't think I will sell until we see another rally like the one that happened 2 weeks after I entered the crypto market during December of 2017, when every crypto went 7-8x dollar value (at least) and XRP made 15X gains, going from $0.22 (which funnily is exactly where we are now) to $3.30.
If another bull market were to happen I really doubt we will ever see these prices again, in the same way $20 or $200 Bitcoin is no longer seen now.
Note
IF you look at the timing of the peaks on the RSI and compare between now and the last time price reached the 21 EMA, you would see that last time the blue line turned downwards on the 2nd candle after reaching resistance. We reached resistance 3 candles ago and right now we are still sitting at resistance and the RSI still has positive momentum. That is why I think this time we will go above the 21 weekly EMA, and that it will happen within a 3 week time-frame.Note
OR, at the very least we have a better chance of crossing it than last time.Note
this month will be very interesting.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.