XRP Pre-Breakout

XRPUSD

This is a fib chart on log scale from Sep 2014 low to the high in Jan 2018

We are in a consolidation period between 2 fibs, not seen since the breakout and movement towards the ATH.
The consolidation between the 2 fibs lasted for 952days before breaking out towards the ATH (a few stops on the way)

At the end of the consolidation, the ichi was broken and sparked a rise of 3,000+%, followed by short-term consolidation before rising another 1,000+%

XRP before the first major breakout was in a 525+day downtrend (CMslingshot & ichi),
once the ichi broke, it was followed by an uptrend of 609days before finding support on the 0.382 fib and down-trending for 714days (slingshot) or 875days (ichi)

The 0.382 fib has been strongly supporting the price, while the 0.236 has been heavy resistance

The last time the 0.236 fib was broken we saw a rise to the ATH, if broken, expect a re-test of the ATH

Currently the ichi has been bearish for 875 days, in 5 days we will have seen a 77 day bullish ichi --> if history repeats it should remain above ichi for 448 days.
The slingshot has been bearish for 714 days, and has just turned bullish for 70days (on weekly close). Expect the slingshot and ichi to be bullish for between 400-609 days before retracement.

Now, the current period of consolidation XRP has been in has lasted 947days (soon to be 952 on weekly close).
Last time XRP consolidated for 952 days, we saw 3 things happen:
1. The ichi was overcome
2. The slingshot turned bullish
3. The consolidation between 2 fibs broke out upwards towards the ATH (Couple stops on the way)

XRP is literally in a pre-breakout stage that hasn't been seen since before the ATH breakout, if this weekly closes above the ichi, it has practically repeated the consolidation before the ATH breakout.
^ Both the ichi & slingshot confirmed the upwards movement previously, and both are indicating a break up.
^^ I'm expecting the 0.236 fib to give way on the next weekly candle and we will see a rise of between 1,000-3,000% leading to a new ATH (expecting turbulence around the ATH)


*Keep in consideration, the SEC lawsuit could delay the breakout & depending on the result of the hearing, could cancel the breakout & we could see lower fibs tested*
*Not financial advice, just noticing a pattern*

코멘트:

Looks like there could be a short term drop on the daily & 3-day timeframe before the weekly continues up alongside my original idea

I'm seeing a bearish gartley within a larger bullish gartley in formation

Thoughts?

코멘트:

The DXY could be what confirms the movement that completes the Bearish Gartley before the Bullish Gartley is completed & resumes with the original idea..

DXY in a Bullish Gartley since 2014

Looks like either:
- We get more time to accumulate
- XRP decouples from BTC & trades alongside the DXY

Thoughts?

코멘트:

Logarithmic Trend on XRP:
Despite everything happening with XRP, we have touched the bottom of the logarithmic channel and XRP is ready to shoot past that fib above which has been quite strong resistance.

The SEC outcome will determine what happens with the XRP chart on monday.

Either we drop back to the bottom of the channel for a while, or we jump over the fib above and slowly move towards the top of the logarithmic trend channel

코멘트:

Just wanted to clarify something that another user brought up that's causing confusion.

The price target i have set for my area of profit taking does not include a time factor! I realize now that it say 'in 500+ days' but I didn't realize that at the time, my profit take target does not include a time factor and I'm not saying in 500+ days, it could happen tomorrow, next week or this year

Just wanted to point that out in case anyone else was confused by that 👍

코멘트:

I've updated this idea with the following:
- I've replicated the idea with a cleaner & easy to analyze chart that I will post below
- I've reversed the fib retracement to provide higher up profit taking targets

When reversing the fib retracement's I've realized that the $0.55 area is much more important to break rather than the $0.46 area initially charted!

코멘트:

코멘트:

Here is a closer view of the current PA around the updated fib retracement!

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The newer idea posted for XRP below:

코멘트:

Having a closer look, there seems to be a nice curve setting up on XRP!

코멘트:

I'll be expecting something like the following pattern to play out on the weekly chart

코멘트:

Indicators still looking bullish on weekly!

코멘트:

Just posted a new idea!

코멘트:

Trying to break that fib once again!

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Closer view on the 3-day chart

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Daily chart shows how much It's trying to break that fib!

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Having a real close look on the 3hr, we are currently testing the fib again

^The more times a resistance is tested, the weaker it gets

코멘트:

What's that famous saying? "Be fearful when others are greedy, and greedy when others are fearful"
This is applicable to the current situation with XRP...
Buy the fear..
Sell the greed..

I've had a closer look at the weekly chart against BTC for XRP & noticed some more bullish signs:
- VMC's market cipher B shows a triple bullish divergence on WT (on the weekly scale)
- VMC showing bullish divergence on stochastic RSI as well
- MacD bullish crossover just occurred
- Buy signals flashing on VMC B
- Appears bottomed out (Confirmed via other charting methods e.g renko/P&F/Line-break) *See idea posted for XRP/BTC*

Now, with the declining price, increasing volume and strong bullish divergences in a very strong support area for the XRP/BTC pair, this could break out at any moment...
Buy the fear..

코멘트:

Point & Figure chart on Binance shows an ascending triangle (1hr selected), Once that breaks up we will see a major pump

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Point & Figure Chart set to 5min shows a massive ascending triangle forming, a break above would lead to a major rally

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Zoomed in

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XRP/BTC double descending wedge, ready for another breakout!

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New idea based on the descending wedge

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PA update for the ascending triangle on P&F for the USDT pair

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1hr line break showing resistance above

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A look at resistance with renko set to 1hr bricks

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Here is a nice & clean look at support & resistance areas for the XRP/BTC pair on a renko chart

코멘트:

Reduced brick size to spot the early reversal

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Looking at just demand only with a P&F chart, we are in an area of demand for XRP that's only been visited 3 other times, each with a major breakout & price move up

코멘트:

Triangle almost broken

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The ascending triangle on Point & Figure broke out!

코멘트:

Gold vs XRP is extremely bearish atm & looking like XRP is set to make a major move up against gold:

Silver vs XRP very bearish for silver, looking like XRP is ready to make some major gains against it!!

코멘트:

look familiar?