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XRP/USD - Bullish Opportunity AheadKey Support Area and Harmonic Pattern Formation: XRP/USDT is currently hovering around a crucial support zone, bolstered by the formation of an XABCD harmonic pattern. This pattern, coupled with the significant support level, suggests a potential reversal in the near term. Additionally, this area coincides with the 4-hour trendline, adding further confluence to our analysis. Entry Strategy: A prudent entry point for long positions presents itself near 0.5944, aligning with the identified support area and the harmonic pattern formation. This strategic entry aims to capitalize on the anticipated bullish momentum. Risk Management: A well-defined stop-loss order should be placed near 0.5590 to mitigate potential losses. This level serves as a critical threshold, protecting against adverse price movements and invalidation of the trade setup. Profit Targets: Upon entry, traders may consider the following profit targets: - TP-1: 0.6335 - TP-2: 0.6720 - TP-3: 0.7100 These targets are strategically chosen based on key resistance levels and Fibonacci extensions, aiming to capture potential upward price movements while optimizing risk-to-reward ratios. Conclusion: In summary, the technical analysis for XRP/USDT suggests a favorable opportunity for a bullish move, supported by the convergence of key factors including the harmonic pattern formation, significant support level, and alignment with the 4-hour trendline. By adhering to proper risk management principles and profit-taking strategies, traders can position themselves to capitalize on the anticipated uptrend. Disclaimer: This analysis is for informational purposes only and should not be construed as financial advice. Trading in the forex market carries inherent risks, and traders should conduct their research and exercise caution before making investment decisions.
BINANCE:XRPUSDLong
by trading_jupiter
Sometimes I'm wrong - XRP breaking hearts and banksWe clearly see a breakdown from the prior Elliot Wavew counts. I must admit I was wrong with my optimism. Regardless, the breakdown does conform with many of the more prolonged timeline pressures for XRP (See ISO20022 SWIFT CBRP+ Timeline ). Regardless, this is a good thing. The opportunities to fill bags at these prices may never be seen once cross-border payments no longer rely on correspondent banking. While the onboarding of the unbanked is my real catalyst for growth in the long term, I am very confident that once the transition period closes, we will see a lot of utility pour into the XRPL, and the native token will be highly desirable for liquidity pools, and greasing the wheels of smart contracts. Takeaway: Ethereum is going to have a lot of competition very soon. So, we clear this chart off and start counting again to find where in the wave theory we are floating. Stay frosty and fill a bag if you have the means. NFA; DYOR.
BITFINEX:XRPUSDLong
by cnote56
XRP to the moon ?in this crypto bullmarket, bitcoin, eth, solana, even memecoins are making all time highs, everyone is happy, except XRP holders. What gives ? XRP certaintly has more value than a memcoin made by a troll on Solana right guys? In my humble opinion XRP has one more cycle to go before it's ready for takeoff. A lot of people are gonna be left out because they lost interest because xrp hasn't gone to 500$ yet lmao. It looks like we're making yet another pennant pattern that led to xrps initial breakout except this time on a larger scale. The measured move would take us to 10-12$ from a bounce off the bottom of the triangle around 19 cents or so depending on how long it takes from here. I wouldn't lose hope yet bulls, I think XRP is sleeping giant getting ready for a breakout it just needs some time. Of course if bitcoin keeps going on a rampage we certaintly could break to the upside prematurely, as of now I will be waiting to buy xrp around 20 cents and wait for the break to the upside next bullmarket. Good luck XRP holders, hope everything goes as planned
BITSTAMP:XRPUSDLong
by Increasedleverage
1
XRP vs XLM Weekly Nearly IdenticalLooking at these two banking tokens on a weekly line chart it is not hard to see that the price action pattern of both has been nearly identical. Using a log scale to measure the change in percentage we see they are topping and bottoming together but yet XRP is up nearly 2x over XLM. If we look at the first range xrp traded in at launch we see a lower double top pattern followed buy a upward curving tight range and then a massive price explosion. Currently we see the same pattern emerging with the lower double top followed by the same upward curving tight range. If the pattern repeats itself the next step in this fractal is price explosion. Squares on the left hand side represent the percentage rise and fall of the first range formed at launch for each token. This typically is a good gauge of the percentage gain available from an assests circulating supply. Unfortunately with cypto circulating supply is subject to change by minting new tokens, lost tokens, and burning.
BITSTAMP:XRPUSDLong
by Degen-Dynasty
Is XRP About To Defy The Sell Off & Double In Price?XRP has been stuck trading in the same price range for the last 5 years. The real question is has it established its fair market value range or has it been just supressed by its pending law suit with the SEC. Personally I tend to lean more twords the later and expect real price discovery to occur after a decision has been reached on their status as a security. Currently XRP is sitting at critical point of both time and price. One way or another expectation of a breakout this week is growing especially with high volitility returning to the market. The next big question is will we see a 100% insane pump to the upside or another 60% impulse wave to the downside. The chart posted is a weekly line chart going back to the beining of XRP on the bitstamp exchange. We prefer lower volume exchanges and line chart as they tend to filter out scam wicks and other distortions in market wide price action across long spans of time. Looking at the long term perspective on XRP we can see price action has been consolidating in what appears to be a bullish flag formation. This week may give us a massive continuation pump or finally brake down return to the bottom of this range. If we lose this level it would be reasonable to expect another 60% drop in price and this would also put us exactly at the highest volume node in this 5year long trading range If we can brake to the upside and confirm a bullish continuation a massive 100% pump may be in order. A brake to the upside of this magnitude would bring the XRP price to the 50% retracement level from the 2021 high which is also comming out at weekly resistance. Currently there is a 50/50 case to be made for both sides and personally I am hoping for and leaning slightly more on the bullish side waiting for lower time frame confirmations. With massive selling pressure on larger assets like BTC and ETH investors may be looking for other assets that have a reason to pump in a market currently trending down. With traditional banking system failures reaching the mainstream may bring some extra attention to the banking token sector of crypto and combined with XRP winning its lawsuit with the SEC may just be the catlyst needed to push the price 100% as the technicals suggest may occure. Trading Plan: We are expecting either a 60% sell off or a 100% insane pump. It is impossible to predict price technical analysis tends to show the potential before these moves well in advance of any news or events. We are currently watching lower time frames looking for bullish divergence on the 4hr chart and under. If price action and momentum give the signal of a move to the upside we will certainly be entertaining a long swing trade but still remaining cautious for a quick brake down warranting a QUICK exit and short entry shopping.
BITSTAMP:XRPUSDLong
by Degen-Dynasty
21
This is itThe only way i can decipher this motive wave development to give us a retrace and entry of a lifetime. You do know XRP will melt faces. You cant catch it because its a 3 wave unpredictable monster. Here is our potential chance if the count is good and we arent actually watching a vertical accumulation. *Advanced ElliottWave rules. Leading diagonals can be composed of zig zags, meaning that we could have an ending diagonal in a wave C of a wave 5. And i am implying exactly that. If it gives a 3 wave retrace, this is your lifetime trade opportunity.
BITSTAMP:XRPUSDLong
by PK_SEND_IT
9