We just formed a perfect diamond, with bullish confirmation! Looking for a run on $1.64 before any chance of another strong draw back. If XRP is going exponential, expect a break of this range with a high chance of retracing from $2 to around $1.72.
Another way of viewing this, is from the Wyckoff Method. We are currently testing the "LPS" (Last Point of Support). Thus, the Diamond Pattern forming at the LPS strongly suggests we are now in Phase D of the accumulation event.
Zooming out, to the weekly chart, you will notice, that XRP is not only in Phase D of an accumulation pattern on the 1H chart, but also the 4 month chart AND the 4 year chart. Thus, XRP is primed for a 'Super Cycle' price rally over the next 3-4 months, which could lead to prices between $15-$94 dollars, based upon normalized historical price trends for XRP.
TLDR; STRAP ON YOUR PARACHUTES! WE'RE HEADED TO LOW EARTH ORBIT!
Helpful References for TA Newcomers;
Diamond Bottom Pattern in-depth breakdown
www.centralcharts.co...s/509-diamond-bottom
Wyckoff Method (w/ labelled 'accumulation' chart)
school.stockcha...ts.com/doku.php?id=market_...
*Chart is a repost; cleaned up version of original.
Another way of viewing this, is from the Wyckoff Method. We are currently testing the "LPS" (Last Point of Support). Thus, the Diamond Pattern forming at the LPS strongly suggests we are now in Phase D of the accumulation event.
Zooming out, to the weekly chart, you will notice, that XRP is not only in Phase D of an accumulation pattern on the 1H chart, but also the 4 month chart AND the 4 year chart. Thus, XRP is primed for a 'Super Cycle' price rally over the next 3-4 months, which could lead to prices between $15-$94 dollars, based upon normalized historical price trends for XRP.
TLDR; STRAP ON YOUR PARACHUTES! WE'RE HEADED TO LOW EARTH ORBIT!
Helpful References for TA Newcomers;
Diamond Bottom Pattern in-depth breakdown
www.centralcharts.co...s/509-diamond-bottom
Wyckoff Method (w/ labelled 'accumulation' chart)
school.stockcha...ts.com/doku.php?id=market_...
*Chart is a repost; cleaned up version of original.