PACK MORE BAG FOR XRP IN THE NEXT AREAToday, The "FOMC Meeting" is being held, there will be a lot of speculation and trading will be very volatile, doing long trades with large leverage is a mistake. but for you (spot traders) I have news for the XRPUSDT buying area in the "$0.4 - $0.45" region, you can buy in the DIP area if the FED raises the central bank interest rate. today is the determination. Congratulations to the buyers in the $0.5 area who follow my signal
You can HODL or sell some of the profits to buy in the next DIP area (if the market crashes because of the interest rate).
Xrpsusd
Ripple Is Set To Rip Hearts AwayMy last short term Ripple idea was a bit off key but the larger analysis remains in tact for the most part. The current Leading Diagonal formation is promised to have an extremely deep retracement. To find out the exact target of the super sized zig-zag, we can simply apply the Fibonacci tool to the A wave down (big drop on the red wave)
--- oops, the fib tool doesn't show on 'ideas' for whatever reason ;(
A zig zag typically has the following targets for the ending C wave:
100% of A
1.618 of A
.618 of A
Also, C wave mostly always goes beyond the bottom (or top) of the A wave. Considering the height of the B wave (current up wave in also in red), C very likely will NOT end at the .618 target (as it won't be below A). The difference between 100% and 1.618% is literally like 2 cents. Either way, the next big target will be below .30, likely below .25 as well.
The rebound will push Ripple over $1.00 and beyond.
#BuyTheFear
Elliott wave analysis of Ripple (XRPUSD): 4hr tf My previous post is referenced below in order to keep track of the progression of Ripple (XRPUSD).
Ripple's (XRPUSD) price action has remained in a sideways trend after it closed at ~$0.92 on April 20, 2018. The sideways price action is identified in this analysis to be a combination (W-X-Y) Elliott wave structure with Minute wave ((x)) currently ongoing.
The implication of the above is that a Minute wave ((y)) should finish downwards as indicated by the red arrow on the 4hr tf chart for Ripple (XRPUSD) before XRPUSD can resume a sustainable bullish move.This analysis favors Ripple (XRPUSD) targeting between 38.2% and 50% ( i.e. ~$0.74 and $0.70) as the Support area because this lies in the region of technical support for Ripple which is between ~$0.71 and ~$0.74 as indicated by the horizontal black line.
Point of invalidation (POI) is placed just above the high of ~$0.97 reached on April 24, 2018. POI in this case is a price close above $0.99