Ripple Leads Market, First To Break Above Inv H&S Pattern! (XRP)

Hi friends! Welcome to this update analysis on Ripple! Let's get it! Looking at the four hour chart, you can see the XRP has exploded higher, after yesterday's bullish analysis. It is above the neckline of the inverted head and shoulders pattern, and currently testing the neckline for support. XRP also appears to be creating a small bull flag consolidation, just above the neckline resistance. This is a very bullish development. You all know that I always talk about confirmation, and this is confirmation action. You can see that there was a breakout candle, followed by a red reversal candle that was stopped at the neckline, and now we're forming another green candle. So, this shows us that the neckline was confirmed as support. Now, we want to see XRP break higher, taking out the highs from the last two candles. As XRP moves higher, the first level of resistance is going to be around 1.16 - 1.23. I've highlighted this resistance zone with the red rectangle . If XRP breaks out above there, it should be smooth sailing up to the first target, at about 1.40. With that said, be aware that a breakdown back into the inverse head and shoulders formation would be a negative sign. I don't foresee that happening, but it is something to be aware of.

Looking at the volume , we can see that there was a nice surge, that has been well above the recent average, which is good to see on the breakout. Additionally, the MACD continues to expand higher, as it rallies above the zero line. We have bullish volume , bullish momentum, a bullish breakout from a bullish pattern , and things are looking good. You can also see that XRP is holding above the 200 EMA (in purple,) which it hasn't done since mid January. There are currently no signs of bearishness on this chart, so the bias is to the upside. This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

評論: XRP has reversed back below the neckline of the inverse head and shoulders pattern, as traders seem spooked by the uncertainty surrounding Coinbase's addition of the currency. XRP appears to be finding support on the 50 EMA, but it has lost the 200 EMA. The bulls definitely don't want to see the 50 EMA go, because the 78.6% retrace (in red) is the just below that, and it's critical support. A break below the 786 could unleash a violent wave of selling. Personally, I don't think that's going to happen, but I am paying attention to the developments as they emerge. The largest and most dominant pattern on this chart is the inverse head and shoulders. A small breakout reversal doesn't change that. However, a confirmation below the 768 would be a technical sell signal.

Another very bad call Poop. As soon as you posted this and mentioning bullish bullish many times, and target showing 1.4 and 1.7, it goes the other direction :(. Maybe you should try to understand that you don't know shit, or any other expert. As i have told you before, you can be 50% right and 50% wrong. I hope people don't fall for no-body's shit

Instant settlement into fiat. Instant transfers between banks. Say what you will but XRP is on the technology edge. And tomorrow everyone will say this app does not exist. But it does...and if you understand Asia you know why they love Ripple.
An exercise is losing your Bitcoin. Works everytime.
+1 回覆
Although the Coinbase rumor may have been a catalyst to the upside (quicker), XRP was already oversold and was due for a surge to the upside. Was just a matter of time... So, Kudos to those who saw the signal and traded it accordingly.

That said, Great analysis :)

Carny dralerte
@dralerte, You make it sound like the upside is over and done with. Is that your opinion?
@Carny, Not at all.

I think it dumped temporarily when Coinbase dispelled the rumor. However, the chart was already oversold when it hit the 786 (which was near support). So, rumor or no rumor, the bounce would have occurred, IMO. I think the main resistance to look for is still set higher. (Albeit, things in this space can be manipulated.)

That said, I locked in profits on the initial 'pump' and already re-entered for round 2. Of course, my stop is in place, and I'll be watching closely for how things unfold, but the current analysis still leaves me inclined to believe we are still heading upward. Just not as fast.

XRP will be in the news tomorrow, and unless the news is bad, I wouldn't expect a wild dip down to 50 cents. Not yet at least.
+2 回覆
So, say someone saw this last night and xrp was at .95. He went to bed and awoke to xrp at 1.05. He bought in at 1.04 which immediately set off a downward spiral.

Where is the best place to set a stop loss? Should he set it under the 786 to make sure he doesn't miss out on any upcoming bull runs or just sell now or something else?

Asking for a friend.
+2 回覆
cycler Carny
@Carny, fomo = rekt.
+1 回覆
lol.. nothing changes on this coin. Claiming a coin with VERY LITTLE VOLUME is gonna go up... Bunch of non sense. People need to understand that markets are driven by momentum and volume is how momentum materialize itself.

+6 回覆
@Denzoss, 100% Correct and exactly why 99% of daytraders go broke and with crypto they are all long which makes it worse it's a one sided trade. This drop has ZERO to do with the Coinbase announcement.That news was cooked in from over a month ago.
+5 回覆
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