LewisGlasgow

Ripple - Cup and Handle

POLONIEX:XRPUSDT   XRP / Tether USD
Upon finding this cup and handle pattern it reminded me of my previous idea for ETC/USD (chart is shown below).


The pattern above was absolutely perfect, we saw a move from $2.50 to $5 within a matter of weeks.

Now, I'm expecting the same for XRP/USDT a move from $0.05 to $0.075 before stalling out and forming a descending channel (the handle).

Once we see this happen I'll be paying close attention to candlestick formations and price structure for a potential breakout to the upside, if successful we will see a move to $0.12.

Over two weeks ago I posted my view on the 1h timeframe, I noticed that price was respecting the 0.618 and 0.786 retracement levels (chart is shown below).


Since then, price dropped down to the 0.786 retracement level one more time before skyrocketing.

To further validate the move up to $0.12, check out my analysis on the daily timeframe below.


I've got plenty more analysis on the way, keep supporting my ideas and don't forget to add me on social media!
코멘트: Here is my current view on the 15m chart, pay close attention to $0.062 for a break to the upside.

코멘트: We've just seen a re-test of resistance following a breakout of a pennant, I'm expecting a move up to $0.075 very shortly.

코멘트: Keep an eye on this price structure, the trendline support is holding really well... Expecting a move to the upside within the week.

코멘트: We're now approaching 0.075, keep an eye on candlestick formations and price structure in this area, we may just break straight through this level rather than forming a descending channel.

코멘트: Price hit 0.075 as predicted, this is where it gets interesting!!!
코멘트: See ya later ;)

코멘트: The next cycle will begin at 0.12, pay close attention to the chart shown below.

코멘트: XRP/BTC: Price is trading within an ascending channel on the 5m chart, good guide for entries and exits.

코멘트: Here is what I see happening on the 15m chart, one last drop before the move up to 0.12.

코멘트: We've now achieved our short-term target!!! Well done to all those who made profit on XRP, I'll now be holding long-term.


Let me know where you got in, comment below.

코멘트

Professional analysis, detailed yet concise! Way to go. Good on you, LewisGlasgow!
+1 응답
LewisGlasgow moontumble
@moontumble, I appreciate the kind words, thank you.
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I don't think you should be using XRP/USDT because it's not a direct value, only XRP/XBT is.

Two reasons.

XRP/USD is a derivative from the BTCUSD price
USDT isn't 1:1 on the dollar, because the issuers have liquidity issues to back it 1:1
+1 응답
LFalcon72 kyriediculous
@kyriediculous, thats a good point but the charts look basically identical
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could nt agree more... Excellent and simple presentation... do you have targets beyond 0.12 ?
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@rforsm, thank you very much! I expect price to hit $0.30 by year end.
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rforsm LewisGlasgow
@LewisGlasgow, great.... will look for the entry point in handle after the cup is complete... very nice again... thanks you...
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@rforsm, perfect! All the best to you :) I will keep everyone posted on this idea, updates to follow.
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LewisGlasgow Valesco_Trading_Group
+1 응답
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