XRP/USDT - Long - Potential 18%Look after your portfolio and it will look after you & If you liked this idea, please like and subscribe to my profile
PAIR: XRP/USDT
T/F: 1 HOUR
LENGTH: Medium
RISK - Medium
ENTRY: 19941
TP1: 20487
TP2: 21216
TP3: 22189
TP4: 23546
SL: 19229
NOTES:
- Be cautious with recent BTC uncertainty - follow with stop losses
- Uptrend
- Sat on Support Zone
- Support Rejection Candles
- Oversold on RSI Deviance
- Resistance>Support Flip
KEY:
BONUS TP - It could continue to rise to a significant high although it is either very long term or a high rist target. REcommended to follow by securing profits with trailing stop loss.
LENGTH:
SHORT = 1-2 DAYS
MEDIUM = Less than 1 week
LONG = Less than 1 month
RISK:
LOW = E.G Stong support // Multiple bounces // Strong uptrend // Oversold // Breakout > Pullback > Support // Rejection Candles
MEDIUM = E.G Broken support // Trend Reversal // Consolidation
HIGH = E.G Not fully brokend Support // Overly mature uptrend
***Please note that all of my suggested Entries, TP's and SL's always ignore any precursor 0's***
Please always trade with caution, manage your trades and stop-losses This is not professional financial advice, just my thoughts and trades I am
XRP-USDT
XRPUSDT Mixed Signals in the 6 Hr charts.In this 6 Hr chart you can see the bearish cypher in pink. Which
ultimately broke down in price from about $0.34 USDT down to
our current market low for XRP at $0.10296 USDT.
Price has since recovered to $0.17700 USDT. While it climbed
back up near 70% of its decline it has formed a head and shoulder
pattern. This is a bearish reversal pattern. The head and shoulder
broke down but found support on orange trend line. Will it hold?
However, the holy grail indicator is ever so close on making some
powerful crossovers in multiple time frames. Which through my
experience in working with the holy grail indicator is BULLISH!
There is also a VERY powerful crossover lined up here on this 6Hr
chart. Notice the pink, red, and the most powerfull of them all
the purple crossover are very close to price action. With support
outlined by the orange trend lines you can see we are near a
decision point as we are pressed down into the corner of the wedge.
Personally I think the head and shoulder will be a fake out pattern.
There is also a converging pattern on the ADX VS MACD highlighted by yellow
trend lines, which SOMETIMES marks the beginning of a new uptrend. More
often than not it produces a counter trend rally that produced a partial
retracement (decline) of price. This pattern also has an upward bias after
a steep decline! Which we just saw down to $0.10
The RSI is at 49 which 50 is considered bullish.
We will have to wait and see.
I believe the direction is up! But there are some mixed signals. Remember
set a stop loss!
Please some me some appreciation for my work and drop me a like!
XRPUSDT 1 Month Chart Breakout?This chart may look a bit different then my other XRPUSDT charts because it from Poloniex.
I chose this one because it has a longer chart history and to see if we could find another POV
that coincides with my other XRPUSDT charts.
Well it certainty seems the breakout is close for XRP. Yes I'm still bullish!
In this 1 month chart you can see the bearish cypher in pink. Which ultimately broke down in
price from about $0.34 USDT down to our current market low for XRP at $0.10296 USDT.
The holy grail indicator is in position for a bullish crossover. In higher time frames gives more
reliable and stronger signals!
Also another interesting note to be aware of is that bearish harami candles on the monthly charts
not only signal successful reversal signals for XRP but the same goes for BTC.
(You can see the BTC one on another chart I've published recently.)
As for the MACD you can clearly see that selling pressure is subsiding. In fact, its starting to look
like a bullish cross is in the cards as well. Note not to far from the 0 line as well. Above 0 is bullish!
I appears we are in the final stages of a break out according to Elliot waves theory. As you
can see as indicated by the yellow numbers 1-5 with the corresponding waves. Exciting times
ahead! Please remember to protect your investment with a stop loss!
Please drop me a like if you found this chart useful. Thanks!
ETH. Short setup.Estimated entry: $151.4-155.5
Invalidation level: $165.75
Estimated TP levels: $137.75 / $128.35 / $123.6
ETH tested resistance yesterday and rejected hard.
Moving to the first strong support which acted as strong resistance in big Ascending Triangle.
Resistance zone is: $153.1-155.5. Here price should reject again and move to test support.
Watch for Price Action at this level, because it can fail to hold, don't rush into buys.
ETH. Long setup.Estimated entry range: 137.4-134.5
Estimated Invalidation level: 129.6
Estimated Take Profit: 144.6 / 154.5
Demand Zone for ETH held the price and provided a strong bounce.
Currently sitting INTO 4H Supply zone, which should provide small pullback before climbing higher.
Market sentiment is not favoring Long positions.
Market structure looks bullish.
XRP/USD we might break downtrend resistance for good!The two possible scenarios are self explanatory as you can see in the chart.
I personally believe the uptrend will be sustained by the bulls. As many have commented, the weak hands are gone and whoever is still holding after the bear market will stay for the good days too.
I am looking at XRP breaking downtrend resistance and closing above the previous high to confirm the new trend. The mid term target is .31 but correction will be expected before climbing further up the ladder.
Please have a look at the charts and leave a comment sharing your thoughts on this trade.
Hope you have a great day/night.
All the best!
XRPUSDT 2020 OverviewXRP FROM ESCROW:
On the first day of each month 1,000,000,000 XRP is released from Escrow and sold to corporate clients of ripple. This is essentially the rate of supply and underlying supply schedule. Once all XRP has been distributed from Escrow, all XRP will be in circulation. This is in my view an alternative method to mining as XRP can not be mined.
BINANCE XRP FUTURES:
One of the world's leading exchanges, Binance, added XRP to its Futures trading platform. The coin is available in the form of XRP/USDT perpetual contract with leverage up to 75x. It means that XRP is now available for margin trading. Binance explained more about their new product with this comment:
"The Perpetual Contract is an attempt to take advantage of a Futures Contract - specifically, the non-delivery of the actual commodity - while mimicking the behavior of the Spot market in order to reduce the price gap between the Futures Price and the Mark Price. This is a marked improvement compared to the traditional Futures Contract, which can have prolonged or even permanent differences versus the Spot Price."
The contracts are traded against the stablecoin Tether (USDT), and users can choose between 1x and 75x leverage. Futures trading is extremely risky, with the potential for big profits and devastating losses. It allows users to enter positions that are larger than their account balance, and perpetual contracts have no expiration date. It is believed that this event heavily contributed to XRP leading a crypto market rally on Monday. According to the market data compiler CoinMarketCap, the price rose by approximately 10-12% depending on where you measure it from. According to a new report from the exchange, BTC futures, which launched in September, have consistently posted higher volume than spot trading for the leading cryptocurrency.
Binance says its Bitcoin futures contracts recorded a median daily volume of $923.1 million in December, while the spot market displayed $285.6 million daily volume.
Source: Binance Research
XRP VOLUME:
Although this chart shows a rise in the average volume level and greater dynamic range would suggest that XRP is getting traded more recently. However according to the market data compiler CoinMarketCap, the volume remains fairly consistent and flat. However zooming in to the total market volume you can clearly see that Binance has cause a spike up in volume from 1,000,000,000 USD/24 Hour to 2,300,000,000 USD/24 Hour just after launching their XRP futures. Will this be the beginning of a trend up for the trading volume? We shall see. Probably yes.
NEW RESISTANCE MANIFESTING:
With upper spikes of around 0.21USD - 0.22USD it would seem that this would be a daily if not weekly target to break through. The sooner it comes the more contagious buying becomes.
PREVIOUS STRONG SUPPORT @ 0.30USD:
For the first third of 2019 XRP appeared stable at 0.30USD. This gave a lot of people hope the bottom was in, however traders were rekt as the price went bearish for pretty much the entire second half of the year after a 2 month long fake out to 0.50USD.
BTC HALVING
Mid May will see the Bitcoin mining reward reduced by 50% causing a huge fall in the rate of supply. If people still want to be buying this at the rate they are, this may naturally start a gradual yet extended BTC bull market until the bulls run out of steam. If the BTC halving creates more bull euphoria in the crypto space. XRP being in third place will be likely to increase in value. Last BTC halving help push XRP into second place, knocking Ethereum off the number 2 spot.
AS ALWAYS THIS IS NOT FINANCIAL ADVICE.
Weekly Pattern so I've seen this on smaller time frames but never a weekly. i wanna say this is a trend flip. XRP falling from 0.30$ bulls tried to regain control and bears rejected, after the rejection bulls now have a chance again from 0.20$ area to spring this momentum if they are able to keep 0.24$ on the weekly close. could start to see things getting very bullish going into 2020. if 0.20$ gives out then I'm not sure where the next support would be. and XRP wouldn't be the only one in trouble