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Ripple XRP Bullish Wedge inside of a Big TriangleLooks like XRP' is moving inside of a bullish wedge now, just like we did a month ago. During the weekend XRP' lost it's support of the bull flag in has been dropping since, but the drops have slowed down again. So it could be it has become a wedge because of it. Bitcoin' is also still on a sideways path, moving in a big bull flag now, but the low volume there is a bit dangerous as well. When looking at XRP' now, it could be intentional though, something i did not think the past 2 days. But since alts are still decent the past days, there is a chance again for things to work out. On the left we can also see what looks like a big triangle. So a test of the low is also one of the options if the wedge fails. If the green support on the left breaks, it could mean the long term bear trend will resume again towards new lows. But for now, lets see if the bullish wedge works out or not. The channel on the right can also show the way for the coming hours. If the market is very strong, it will break up, but usually upwards channels break down. So it will be a sign of the strength on the short term. Please don't forget to like if you appreciate this Previous analysis:
BITFINEX:XRPUSD
by botje11
1
Was Correct About Ripple Dip - Ripple Rebound ForThe Short Play!XRP behaved as expected. Many people are quick to call tops without calling bottoms as well. Thanks to everyone who send me a message telling me about your profits! I hope everyone continues to make smart trades. If you are holding XRP right now the only smart move to make is to switch to another currency you are positive is going to grow faster than Ripple - or wait. As a professional trader I spend weeks or months waiting for assets to get to where I want them to be sometimes they are in the negative for most of that time. Crypto is a thousand times the speed of any other asset class - in a market that doesn't sleep. Some describe month long holds as "longs" whereas in other markets that would be a very short horizon. In part due to the fact that the market never closes and also because there are no regulations against practices that are banned on regulated markets - Ripple sometimes trades its worth - other times it pauses before catching up. Ripple has an inverse relationship with Bitcoin whether we like it or not. BTC appears to be tracing the bottom right-hand side of an inverse head at shoulders pattern. BTC is currently trading at $6500 and will rise to $7100 again by Aug 10th. Ripple will gain momentum thanks to BTC and should quickly move back up to the 5700-5800 range from the BTC pressure alone. With the added momentum, we should see 61k sats again in short course. I still believe in a $2 Ripple at some point this year. Summer trading has traditionally proven to be rewarded by the major gains seen in the fall!. Ripple is a good buy right now on the short play - or to add to your portfolio of "long" positions - the price is right.
by rgeddes
1
Buy More Ripple (Can I say that?)It looks like XRP bottomed out at .42 - we seem to be recovering. A reversal seems to be in play for BTC which should bode well for the price of Ripple. We should see a turnaround to at least the .48 range before we see any correction. Once we hit .48 we will probably band sideways before we start testing the higher limits of the .50 Hold if you have -buy if you don't. Do your research look at the size of the projects. Ripple is number three by a convincing amount - its bigger than number 4 and 5 on the top 10 crypto by market cap list. It will appreciate faster than BTC, ETH or LTC. Owning XRP at these levels as a PORTION of your crypto holdings should pay off big time when the next wave hits!
BITFINEX:XRPUSD
by rgeddes
1