XRP/BTC On Binance: Upcoming BreakoutCurious about what everyone thinks about this as well as my analysis...
After predicting the potential for a breakout, looking into indicators to try and get a sense for the direction as the wedge is rather a toss-up:
RSI
Showing very low on the 4hr, and Daily nearing a 50-cross... this tells me it looks like an upward break, which will bounce the daily back up (will not pull it into a downward cross).
Averages Analysis
21, 50, 100 EMA and 200 SMA analysis: Crosses have occurred, showing negative trend forming, or at least for the time being. Since it's channeling it's tough to say.
MACD
Showing potential for a cross back upwards on the 1hr, and a decent negative trend already crossed 12hrs back.
Momentum
(I use TTM Squeeze) is showing we are in a squeeze on both the 1hr and 4hr chart. Momentum looks like it may be recovering enough to push a MACD crossover on the 1hr, but on the 4hr it looks like momementum is still pushing strongly negative.
Ripplebtc
XRP 5 th wave, Correction afterwards, good but incorrection to lower fib level or the 61.8 is a good buy in for ripple.
If you look at coinmarketcap Ripple was up 30% while bitcoin was up only 7 % at this moment. Ripple is still and will always be a very strong coin to invest in. I know many hardcore crypto supporters argue over the fact that ripple is a bankerscoin. But my advise to every new investor is to have at least ripple in your portfolio along with one or more other coins with a top 10 market cap. You actually dont need more since most coins grow and decline together (except some have a higher rate of recovery etc like ripple in this case)
We will soon see Ripple be at 3 dllar again and who knows where it will head to after that, The moon? :)
Levels to watch, 1.40 dollar may inflict a bounce up again towards 1.74 and 2$
1.14 is the 61.8 fib level, in the event of a retracement this could be the lowest bounce level up, trade manually or set buy limit orders.
Good trading and stay relaxed, DONT Panic.
Ripple Giant.The predecessor to the Ripple payment protocol, Ripplepay, was first developed in 2004 by Ryan Fugger,a web developer in Vancouver, British Columbia.
The Ripple project is actually older than Bitcoin itself. Fugger conceived of idea the intent being to create a monetary system that was decentralized and could effectively empower individuals and communities to create their own money. All money in Ripple is explicitly represented as debt, with transactions simply consisting of balances being shifted on a series of imaginary credit lines from the payer to the receiver.
Fugger's first iteration of this system, RipplePay.com debuted in 2005 as a financial service to provide secure payment options to members of an online community via a global network.
This led to the conception of a new system by Jed McCaleb of eDonkey network, which was designed and built by Arthur Britto and David Schwartz. In May 2011, they began developing a digital currency system in which transactions were verified by consensus among members of the network, rather than by the mining process used by bitcoin, which relies on blockchain ledgers. This new version of the Ripple system was therefore designed to eliminate Bitcoin's reliance on centralized exchanges!!... Use less electricity than bitcoin, and perform transactions much more quickly than bitcoin. Chris Larsen, who had previously founded the lending services companies E-Loan and Prosper, joined the team in August 2012, and together McCaleb and Larsen approached Ryan Fugger with their digital currency idea. After discussions with long-standing members of the Ripple community.
Up until now Bitcoin has been, by far the most powerful contender in the cryptocurrency market.
So I explain the idea how they Create it this new CryptoCurrency now i would like to talk more about Market and how this thing work's and for all those new investor's and new guy's who are here investing and creating panic with thier Ridiculous Comment's.
So Right now i will explain you in some steps how this work's.
I Know a lot of them Think this coin only will stay 1-3$ Beacuase is ''Bank Coin''.
We see a lot of Investor's who are afraid and they are afraid from one pullback and they sell all of them cuz they think the market will go only Uptrend.
Biggest Mistake of all New Investors that they make, trust me the market will never go only Uptrend so it will has downtrend is the market thing that does.
So People i just wanted to share my idea and experience i have in market.
Ripple has been increasingly adopted by banks and payment networks as settlement infrastructure technology, with American Banker explaining that from banks perspective, distributed ledgers like the Ripple system have a number of advantages over cryptocurrencies like bitcoin," including price and security.
XRP is the third largest coin by market capitalization.
#XRP #RIPPLE updated +384% target $8.89 Feb-1stConsidering that the last couple weeks in crypto has had a bit of bleeding in the markets, let's review my updated chart.
First, we disregard the first major rally and consider it was smart money getting into the market.
Second, the rally beginning shortly after the start of the smart money entry point, started Dec 12th and ended Jan 4th for an increase of +384%.
The volume of the last 10 days has been heavy with selling, however, the prices have really not fallen much. This tells us that the price of Ripple seems to be on pretty solid footing. Compare it to the high buy volume for the 30 days prior and the price increased significantly.
Considering the second rally of +384% for the All Time High (ATH), we see that the Fibonacci retracement levels show we are just touching on the -61% fib retracement line at the current levels. This is generally the end of the consolidation period after a rally, meaning we are due for the beginning of upward movement again. This is a very common occurrence in the crypto markets.
If new money comes in and our volumes are similar to the prior rally, it's very likely we'll follow a similar course of growth with the +384% target of $8.89 (down from my prior target of $9.90 before CMC removed Korean exchanges from their market cap calculations).
Also, the pitchfork is something I drew before analysis today. I figured in the 3 key points, first high and current lowest low. The interesting part here is that that pitchfork actually comes in very close to my estimated target for the upcoming +384% rally to $8.89.
I've heard no major news or new rumors yet about Ripple, Tron, nor Verge, so I'm not sure when these coins will start this rally, I can only guess it could be very soon, possibly within the next few days or so.
I think the markets have bled enough for this period and we should see things bounce back up here shortly. However, if they don't, then it could be a sign of a new long term downtrend like I experienced in the Bitcoin market in 2014. As a new trader then, it was difficult for me to believe that Bitcoin was in a downtrend after we hit the ATH of $1100 just a couple months before, so I always return to that thought and keep in mind that there will be a reversal at some point that will lead to a long term downtrend or winding down period, but I don't believe we are there just yet. I think we're actually on the early end of the upswing, similar to the time when I made my first investment in Bitcoin when its value was at $100. I still think Bitcoin could go to 10x its current value before we see a trend reversal, but only time will tell for sure.
RIPPLE (Correction continue)Hello Traders!
The Correction phase, do not over. We accurately predict, weak decline, then rebound, creation of balance and after that Strong Uptrend!
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Personal gratitude!
Yesterday we red one comment from Trader "Gusccbb" ( www.tradingview.com ) , who awared us to be careful with Ripple, cause of adverse fundamenatl factors!
"Hi, do you think that with the low market volume of last days is compatible with a trend break this week in both Ripple and BTC that have been severely punished by the impact of news from Korea last week?
The volumes are approximately 15% of those operated in the first week of January. The trends will be defined I think when the money returns to the market I think. Tks."
We are sincerely grateful to you! Respect! Big thanks!
Best regards, team traders "Powerful Traders".
Pennant Pattern on ripple, Building UP.We can clearly see Pennant pattern building on ripple, Since the volume is giving the bullish sign and trend says so as well, will go up probably , the question is when. We should look for a break above resistance signals that the previous advance has resumed. If in case goes bearish , look for a break below support signals that the previous decline has resumed.
Thumbs up if you agree.
Just a learner.
Constructive criticism is always appreciated.
Thank You.
Ripple #XRPBTC - end of correction? rocket gains ahead?The Ripple XRPBTC cryptocurrency made a nice correction of three waves back to the level of the previous wave four of a lesser degree with (a) = (c) equal legs and a stroke of exactly 1.61 level (in line with previous expectations). This is really a perfect configuration in the Elliott wave theory and exactly what we are looking for in trading setups. Currently, cryptotraders must wait for confirmation of the lows, which will come with a break of the channel's resistance line (around 2.40) and make sure the price will make a break above 2.80, (impulsive up trend resumption level) which would confirm that Ripple is returning to an up trend.
If Ripple goes below 1.60 for any reason, a new wave scenario will be needed.