XRPUSD | READY TO FLY?
Analysis –
XRPUSD | BULLISH | 1W
This chart incorporates market structure as the focal point from meticulous study of behavioural analysis.
On the 10th November 2021 price failed to break a key area of reactivity at 1.35XXX, a downtrend was formed with candlestick volume unquestionably bearish on all timeframes; but what we’re currently experiencing in terms of price action tells an interesting story.
Firstly, we may observe an increased magnitude of buyers in the next few days as price has currently retested & wick-rejected the previous market structural HL, which is an early indication of a retracement and a decisive move up could only opinion a change in market sentiment for investors. It is fair to say the bulls are fighting back for control whereas the closure / confirmation of the weekly candlestick has already closed above the support; mitigating liquidity (bullish order flow) where we can expect a momentum shift with an impulse higher. Similarly, the entire formation of price has created a ‘double bottom’ which in essence, is a bullish chart pattern to induce more buyers into the market. Mr Leonardo’s Fibonacci numbers also play a key role where we may see price sky rocket to our trend-based Fibonacci retracement level of 23.6%, acting as an intermediary for price to react—creating a fresh HH; offering an approximate 75% increase to price providing we break our previous resistance, then exhibiting a potential retest of the previous LH as a correctional move, trapping further liquidity to then explode higher where we can then officially confirm an uptrend ~ after a brother-sister formation of a HH & HL, where price will increase exponentially thereafter. Moreover, once price has gained traction, we will then observe indecisiveness, consolidation and “fakeouts”, where the market will mislead early investors, a psychological play of directional bias through the shadows of candlestick anatomy (especially on the LTF’s), within the 23.6% - 38.2% and then then 61.8% - 78.6% Fibonacci levels until price tests the next zone up at a price of 2.43XXX; which was also a key resistance turned support after the bull run in 2018, totalling a move 165% up from today’s price. Following this analysis, I also think XRP will also reach 3.57XXX following the fractals of early 2021 which I've linked in this post—flying to a potential 290% growth.
(It’s also worth mentioning that if price closes below $0.92 on the monthly chart this analysis will be invalidated and the next target will be 0.56XX testing the previous HL).
—
What about the SEC?
Everyone‘s talking about how there is a lawsuit now - which is why XRP hasn’t rocketed higher ~ without going into detail.
What you’re forgetting to remember is that even with the ongoing lawsuit since the start of 2021,
The price of XRP increased by approximately 725%; do you also know that XRP has outperformed Bitcoins growth of approximately 130% this year?
(That’s more than a 5x growth factor).
The message from this is that the price of Ripple’s native token hasn’t given a fuxk about the SEC in terms of percentage growth but until this lawsuit is over, I wouldn’t expect XRP to reach an ATH just yet.
Let’s be realistic.
Thank you for your time,
Any questions are welcome.
L’art Di Vivre.
XRPUSD | BULLISH | 1W
This chart incorporates market structure as the focal point from meticulous study of behavioural analysis.
On the 10th November 2021 price failed to break a key area of reactivity at 1.35XXX, a downtrend was formed with candlestick volume unquestionably bearish on all timeframes; but what we’re currently experiencing in terms of price action tells an interesting story.
Firstly, we may observe an increased magnitude of buyers in the next few days as price has currently retested & wick-rejected the previous market structural HL, which is an early indication of a retracement and a decisive move up could only opinion a change in market sentiment for investors. It is fair to say the bulls are fighting back for control whereas the closure / confirmation of the weekly candlestick has already closed above the support; mitigating liquidity (bullish order flow) where we can expect a momentum shift with an impulse higher. Similarly, the entire formation of price has created a ‘double bottom’ which in essence, is a bullish chart pattern to induce more buyers into the market. Mr Leonardo’s Fibonacci numbers also play a key role where we may see price sky rocket to our trend-based Fibonacci retracement level of 23.6%, acting as an intermediary for price to react—creating a fresh HH; offering an approximate 75% increase to price providing we break our previous resistance, then exhibiting a potential retest of the previous LH as a correctional move, trapping further liquidity to then explode higher where we can then officially confirm an uptrend ~ after a brother-sister formation of a HH & HL, where price will increase exponentially thereafter. Moreover, once price has gained traction, we will then observe indecisiveness, consolidation and “fakeouts”, where the market will mislead early investors, a psychological play of directional bias through the shadows of candlestick anatomy (especially on the LTF’s), within the 23.6% - 38.2% and then then 61.8% - 78.6% Fibonacci levels until price tests the next zone up at a price of 2.43XXX; which was also a key resistance turned support after the bull run in 2018, totalling a move 165% up from today’s price. Following this analysis, I also think XRP will also reach 3.57XXX following the fractals of early 2021 which I've linked in this post—flying to a potential 290% growth.
(It’s also worth mentioning that if price closes below $0.92 on the monthly chart this analysis will be invalidated and the next target will be 0.56XX testing the previous HL).
—
What about the SEC?
Everyone‘s talking about how there is a lawsuit now - which is why XRP hasn’t rocketed higher ~ without going into detail.
What you’re forgetting to remember is that even with the ongoing lawsuit since the start of 2021,
The price of XRP increased by approximately 725%; do you also know that XRP has outperformed Bitcoins growth of approximately 130% this year?
(That’s more than a 5x growth factor).
The message from this is that the price of Ripple’s native token hasn’t given a fuxk about the SEC in terms of percentage growth but until this lawsuit is over, I wouldn’t expect XRP to reach an ATH just yet.
Let’s be realistic.
Thank you for your time,
Any questions are welcome.
L’art Di Vivre.
相關出版品
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。