Quick RIPPLE (XRP) update 10.01.18

ew-and-patterns (70)in #xrp • 7 years ago

RIPPLE has decided to continue this correction, now forming an expanded flat pattern (3-3-5).

I adjusted the count, to make it fit with this big correction. XRP is still very bullish, but it doesent look anymore like the wave is extending. Seems to me like a normal impulse structure.

Why did I change it? Because the other count was not calling for a big correction, but a small one. So it is likely not an extension.

I think one new low is needed to complete this pattern.

The target for the next wave up remains 4$ or more.

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7 years ago in #xrp by ew-and-patterns (70)

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grizgal (55) 7 years ago

Great opportunity to stock up on ripple. I’ve missed so many opportunities with this, stretching back to the initial giveaway when they gave away ripple for proof of BOINC work! I’m not going to miss this opportunity!

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2 votes

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investingtips (3) 7 years ago

Exactly, I bought a load of Ripple today as well, if it actually becomes fully adopted by central banks worldwide then the current price is peanuts in comparison to what it will be in the future.

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chrone (53) 7 years ago

Totally agree, got my buy orders set!

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1 vote

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vnyrox (9) 7 years ago

The 50 percent decline of Ripple's XRP token from the record highs may have strengthened the bears, but chart analysis indicates further downside may be limited.
The chart (prices as per Bitstamp) above shows:

XRP looks set to test the rising trend line support of $1.50. Dips below the same could be short-lived, given the RSI on 4-hour time frame and 1-hour time frame shows oversold conditions.
Bullish Scenario: A rebound from the trendline support, followed by a close above $2.15 (Jan. 5 low) would add credence to the oversold conditions as shown by the 4-hour and 1-hour RSI and signal further gain towards $3.00–$3.30 levels.
Bearish Scenario: A sustained move below $1.4154 (61.8 percent Fibonacci retracement) could yield a sell-off to sub-$0.50 levels.

Ripple Bulls May Regain soon... @ew-and-patterns

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3 votes

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demonklyd (43) 7 years ago (edited)

Agreed, but I don't think XRP will go any lower than $1.55. It's over. From an Elliot Wave perspective, its decreasing down to $1.6 was just perfect (exact same level as last correction's deep). here's my POV:
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EDIT: btw, tomorrow DMM japanese exchange will add XRP/JPY as a tradable pair (same for BCH, ETH, etc...). This piece of news has been much awaited by the XRP community as a sign of a broadening implementation of XRP within the crypto landscape, amidst the news in relation with Seagate's investment and banks, etc, welcoming Ripple's know-how more and more.

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