Raul_Dominguez

Ripple Analysis and Trading Strategy

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BITSTAMP:XRPUSD   瑞波幣
XRPUSD

Ripple has been forming a triangle for the last 5 months, with higher highs and lower lows, building a ton of energy. If the triangle breaks above its upper trade line, about 27 cents, its minimum upside target would be about $0.49 cents (amount calculated by adding the longer distance of the triangle to the breaking point). But that is a conservative estimate, much likely it could reach the $1.00 dollar mark or more.

Breakouts of a triangle are usually fast and with high volume, so it should reach its target quickly. Last time it took 2 months to rise from one cent to 40 cents. Will see this time.

Conservative Trade should be: Buy once it's touches $0.28 dollars, with stop at $0.18. Selling 50% once it reaches $0.48 cents, and leaving the other half to see if it reaches $1.00 dollar or more.

Long Term Elliott Wave Count suggests we are in Primary Wave 4, of its first cycle wave. With wave 1 rising from $0.002901 on August 16, 2013, to $0.057516 on December 02, 2013 (19.82 to 1 ratio), wave 2 declining from $0.057516 on December 02, 2013, to $0.005495 on March 01, 2017, wave 3 rising from $0.005495 on March 01, 2017, to $0.414795 on May 17, 2017 (75.48 to 1 ratio).

If wave 4 ended on October 24, 2017 at about $0.183 dollars, at it rises 0.618% the ratio of wave 1 (19.82), that will mean it will have to rise to 12.25 times its low of $0.183 which would be equal to $2.24 dollars. Not impossible given Ripples fundamentals. Will see how much it rises from here to the middle of December.

coinmarketcap.com/currencies/ripple/

Good Luck

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