XRP - Are we THERE YET ?🤔
Updated
Hi Traders, Investors and Speculators 📈📉
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫
As you guys know, I am notoriously bullish on XRP. In terms of accumulation, it's an excellent option. XRP is also know to pump and dump, meaning when it rallies, it usually goes parabolic which makes for very high profits. In this chart, I explore two possible Wyckoff Method scenarios : OPTION 1 where we have already bottomed and this is our first test of resistance zone after the range trading; OPTION 2 where this is only the FIRST re accumulation cycle (midway) and the bottom is yet to come, followed by another period of lower range trading.
The reason why I label this post as a "long" or bullish, is because USUALLY (not always) there is a Xmas rally, or a December rally. It should be interesting to see if we find our reversal during the month of December, or if we continue to decline and start another bullish cycle during Q1 next year in 2023.
More on the Wyckoff Method can be found, in detail, HERE :
XRPUSD is one of few altcoins that is paving the way toward clarity - the SEC case is definitely a dark cloud that hangs over Ripple, but once it it settled I expect some major price action for XRPUSDT . Another idea on XRPUSDT with targets using the Fibonacci Retracement can be found HERE:
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CryptoCheck
Ev here. Been trading crypto since 2017 and later got into stocks. I have 3 board exams on financial markets and studied economics from a top tier university for a year. Daytime job - Math Teacher. 👩🏫
As you guys know, I am notoriously bullish on XRP. In terms of accumulation, it's an excellent option. XRP is also know to pump and dump, meaning when it rallies, it usually goes parabolic which makes for very high profits. In this chart, I explore two possible Wyckoff Method scenarios : OPTION 1 where we have already bottomed and this is our first test of resistance zone after the range trading; OPTION 2 where this is only the FIRST re accumulation cycle (midway) and the bottom is yet to come, followed by another period of lower range trading.
The reason why I label this post as a "long" or bullish, is because USUALLY (not always) there is a Xmas rally, or a December rally. It should be interesting to see if we find our reversal during the month of December, or if we continue to decline and start another bullish cycle during Q1 next year in 2023.
More on the Wyckoff Method can be found, in detail, HERE :
XRPUSD is one of few altcoins that is paving the way toward clarity - the SEC case is definitely a dark cloud that hangs over Ripple, but once it it settled I expect some major price action for XRPUSDT . Another idea on XRPUSDT with targets using the Fibonacci Retracement can be found HERE:
_______________________
📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍
We thank you for your support !
CryptoCheck
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Please drag down the technical indicator; I don't know why it appears when it has been muted...
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