XRP / Tether USDLong
XRP to follow DASH for major move - breaking 2 year trendline
I used an overlay of Dash's price movement on top of the XRP/USDT price chart.
As you can see, both have been moving pretty much in sync, with XRP lagging from time to time.
XRP/USDT is against these major resistance points
- Range low resistance (of the wyckoff I posted earlier)
- 2 year long trendline resistance
- Daily 100 MA
- Weekly 21 EMA
It seems that if we can break this area, all major resistances will be breaking at once.
XRP/USDT appears to have made a wyckoff accumulation schematic (see one of my earlier ideas here:
)
and is now trying to reclaim the previous range. If this reclaims we it means that the accumulation is confirmed and this would be the biggest accumulation period that crypto has seen thus far. Long accumulation means diminishing supply and major price moves.
XRP needs to break 0.25cents and close above it in order to reclaim the range, if it succeeds in doing so, I believe we can expect a major price rally.
Technical analysis
XRP has been really choppy lately and producing unclear price action, zooming out helps clear the noise in t he chart.
Seeing the wyckoff accumulation post I posted earlier it is likely that we reclaim the range and break the downtrendline/falling wedge below
Monthly currently forming bullish engulfing on support
Weekly closed as a higher high
XRP/BTC first higher low on the weekly chart possibly forming a double bottom
Weekly MACD crossing bullish
BTC dominance made a head & shoulders pattern and retested it bearish. Looks like there is alot of room for BTC dominance to decrease here
all in all XRP has been lagging in price with most majors but looks ready for some major movement if we manage to break here.
As you can see, both have been moving pretty much in sync, with XRP lagging from time to time.
XRP/USDT is against these major resistance points
- Range low resistance (of the wyckoff I posted earlier)
- 2 year long trendline resistance
- Daily 100 MA
- Weekly 21 EMA
It seems that if we can break this area, all major resistances will be breaking at once.
XRP/USDT appears to have made a wyckoff accumulation schematic (see one of my earlier ideas here:
and is now trying to reclaim the previous range. If this reclaims we it means that the accumulation is confirmed and this would be the biggest accumulation period that crypto has seen thus far. Long accumulation means diminishing supply and major price moves.
XRP needs to break 0.25cents and close above it in order to reclaim the range, if it succeeds in doing so, I believe we can expect a major price rally.
Technical analysis
XRP has been really choppy lately and producing unclear price action, zooming out helps clear the noise in t he chart.
Seeing the wyckoff accumulation post I posted earlier it is likely that we reclaim the range and break the downtrendline/falling wedge below
Monthly currently forming bullish engulfing on support
Weekly closed as a higher high
XRP/BTC first higher low on the weekly chart possibly forming a double bottom
Weekly MACD crossing bullish
BTC dominance made a head & shoulders pattern and retested it bearish. Looks like there is alot of room for BTC dominance to decrease here
all in all XRP has been lagging in price with most majors but looks ready for some major movement if we manage to break here.
My ideas are not meant for trading advice, always do your own research. Always be prepared for bull and bear scenarios
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
If my ideas were helpfull, feel free to donate here: 1Kufwyg8tq8s76SUfCPvCZUVgLxSha8UZZ
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.