Thank you for checking out my idea!
I believe this wave down is the bears last attempt to break to new lows. I personally feel they will fail. XRP is one of the few coins to not really have made a serious comeback in the market. As some examples, LTC did $22 to $145, 6.5X. ETH did $80 to $360, 4.5X. BTC did $3k to
14K, $4.6X. Meanwhile, XRP did $0.28 to $0.50 during that same leg up. Nothing to be disappointed with realistically, but in comparison it doesn't beat any of them.
Why is that? Maybe there is a reason it's doing worse than everything else and I just don't see it. I am no XRP maximalist or BTC maximalist. So don't think I'm just trying to shill this coin or any specific coin. I try my best to be objective on any cryptocurrencies potential. Though I do see XRP is one of the FEW coins that's not just a theoretical idea being tested, but rather a fully fledged business model currently being used by multiple banks as we speak. It works and it works well. So the idea we are going to new lows is pretty far fetched to me. A large Inverse H&S pattern to start our bull run up would be a fantastic start. I think it's time XRP starts catching up to some of these other coins gains.
For those that think this is wrong; You very well could be correct! I don't believe that just because I think it 'IT MUST BE TRUE.' I could totally be wrong, but the burden of proof is on the bears for this one.
Again, thank you for checking this out! It's just a thought. Drop me some likes for funzies.
I believe this wave down is the bears last attempt to break to new lows. I personally feel they will fail. XRP is one of the few coins to not really have made a serious comeback in the market. As some examples, LTC did $22 to $145, 6.5X. ETH did $80 to $360, 4.5X. BTC did $3k to
14K, $4.6X. Meanwhile, XRP did $0.28 to $0.50 during that same leg up. Nothing to be disappointed with realistically, but in comparison it doesn't beat any of them.Why is that? Maybe there is a reason it's doing worse than everything else and I just don't see it. I am no XRP maximalist or BTC maximalist. So don't think I'm just trying to shill this coin or any specific coin. I try my best to be objective on any cryptocurrencies potential. Though I do see XRP is one of the FEW coins that's not just a theoretical idea being tested, but rather a fully fledged business model currently being used by multiple banks as we speak. It works and it works well. So the idea we are going to new lows is pretty far fetched to me. A large Inverse H&S pattern to start our bull run up would be a fantastic start. I think it's time XRP starts catching up to some of these other coins gains.
For those that think this is wrong; You very well could be correct! I don't believe that just because I think it 'IT MUST BE TRUE.' I could totally be wrong, but the burden of proof is on the bears for this one.
Again, thank you for checking this out! It's just a thought. Drop me some likes for funzies.
Note
As a side note for anyone keeping up with this; XRP doesn't have to decline all the way down to the Golden buy zone. We could very well hold support at $0.25 and continue up to the neckline from there. This will still count towards the Inverse H&S pattern. The Golden buy zone is an all-in zone for me with a firm stop-loss set under the low.
Note
Check out this analysis if the Inverse H&S interests you. It seems the pattern is popping up on multiple alt coins on this big of a scale. Could it be many alts have bottomed?
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.
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.