Hey traders, today we're looking at XRP/BTC ratio chart. First off, it's pretty obvious that an altcoin season is underway. The Bitcoin dominance has peaked at around 72% and is having a hard time breaking back over support at 69. Meanwhile, all of the alts have slowly but surely been gaining satoshi value, and that isn't just going to reverse anytime soon.
Take a look at the 1st and 2nd wick on this chart, those wicks marked the absolute bottom of the market. It's delusional to think we're going back down there. XRP/BTC has also regained support of it's long term uptrend stending from ALL of the previous altcoin season run-ups.
The wedge I drew is basically just a resistance line at 3292 sats, confirmed uptrend from the 2nd wick. Just take a look at how the candlesticks interact with all of the lines I drew, trading really is just clockwork.
Now with the price of XRP/BTC, this week I don't expect a huge move from either coin, actually don't expect anything until the start of the new monthly candle in November. If anything, we could see a retest of the 4H hold or even the topside of the wedge at 3292 sats.
All I know is, we're not going back down to touch the monthly all the way at the bottom. Possibly not even touching that long term uptrend until the bottom of the next cycle. This coin is actually about to pop off very soon, it's just a matter of time before it does.
Nothing breaks a yearly long downtrend and has no price movement. We're going to see something crazy..
Every single time the XRP/BTC chart has looked like this, we've seen a rocket shooting the price up within weeks. I don't think this time should be any less different, history repeats itself.
As always, do your own research, I am not a financial advisor.
Take a look at the 1st and 2nd wick on this chart, those wicks marked the absolute bottom of the market. It's delusional to think we're going back down there. XRP/BTC has also regained support of it's long term uptrend stending from ALL of the previous altcoin season run-ups.
The wedge I drew is basically just a resistance line at 3292 sats, confirmed uptrend from the 2nd wick. Just take a look at how the candlesticks interact with all of the lines I drew, trading really is just clockwork.
Now with the price of XRP/BTC, this week I don't expect a huge move from either coin, actually don't expect anything until the start of the new monthly candle in November. If anything, we could see a retest of the 4H hold or even the topside of the wedge at 3292 sats.
All I know is, we're not going back down to touch the monthly all the way at the bottom. Possibly not even touching that long term uptrend until the bottom of the next cycle. This coin is actually about to pop off very soon, it's just a matter of time before it does.
Nothing breaks a yearly long downtrend and has no price movement. We're going to see something crazy..
Every single time the XRP/BTC chart has looked like this, we've seen a rocket shooting the price up within weeks. I don't think this time should be any less different, history repeats itself.
As always, do your own research, I am not a financial advisor.
