RIPPLE (XRP) update 05.01.18
RIPPLE seems already overbought, but my count suggests, that there is still a possibility for a huge extension.
If you see a price movement like this, expect yellow wave 5 to be around 7$ or higher!
The BTC pair shows even higher potential... But let's not get crazy about it yet.
I will calculate yellow wave 4 and 5 once yellow wave 3 is done.
For me this means, that I will HODL my XRP and monitor it closely, because there are a few other possibilities.
Why did I count it like this? Well, you need to be able to read the subwaves to come up with a count like this. I opened 4 different timeframes in XRP simultaneously and checked if everything would fit the subwaves and if it doesn't violate any Elliott Wave rule.
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If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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MUST READ!
DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
Thanks for the post I have unfollowed a lot of people but I must say I am only going to keep the cream of the crop and You passed that test nice job
Wow. As high as $7. That would be some extension. Fingers crossed.
I upvoted your post purely because of the way it looks. I love the format.
Nice post.
In crypto the crowd is mostly new and inexperienced, all the psychological effects like FUD and FOMO are more visible. Good traders say crypto is easier to trade because of this.
It is a lot easier without the bots and trading algos, believe me.
plz back up vote
Upvote and resteem. I am angry that I sold a huge batch of Ripple a few months ago. It wasn't moving and I was pissed-off...
Now you can buy it back, I will be:)
I have to disagree, @ew-and-patterns. The CoinBase announcement has broken the up-trend for Ripple. I have sold all my XRP today after I read the news.
Interesting post but I think a lot of the Ripple hype was based on the idea it was going to soon be added to Coinbase. Coinbase since then has openly came out stating that NO new coins will be added to their platform in the short term, and after there BCH mess, they aren't going to lie/mislead about that as they would get even more backlash this time if they did. XRP still has a lot of room to move, but I don't think its going to hit much higher value in the next few weeks or even months, but I guess only time will tell.
For me any fundamentals or news don't matter. EW states that news will arrive to justify the count, not the other way around.
But if you believe in fundamentals or news then yes, this might be something to keep an eye on.
I personally make decisions purely based on my TA and nothing else.
They will eventually list XRP. I'm sure of it. Coinbase didn't say they won't list XRP. They won't list it in the near term. When the finally list XRP we'll see the end of wave 5
I agree, I am just saying that most of the current FOMO is based on people making the assumption that XRP was going to be added to coinbase in the next few days, but based on Coinbase's recent statement this appears to not be the case.
Any Ripple bought is overbought.
I am trying to buy Ripple but all authorized exchanges are either blocked new registers or take too long to verify KYC in India. Hope I can catch this wave before it is too late.
Take this as a sign, ripple is not a crypto currency. It was created by the banks for the banks. The whole reason this space exists is because of the banks fooling around. Think long and hard about what you want to be holding.
Wow
