Hello traders! We all know that XRP has been a little slow. While many coins like IOTA, ADA, and such explode seemingly unstoppably, XRP chose to not just join the Frenzy, but to make lower lows! XRP is overdue. But not worry! Stellar Lumens is ready to blast. The time has come for XRP. I will prove this with Technical Analysis in the next part. Hi, I am Trader_ph. Welcome, and please like and subscribe for good technical analysis in cryptocurrencies.
XRP as explained in the previous text is ready to blast off. Proof? I have many technical and relational(compared to other cryptos) analysis. I present them to you:
1. Signs of accumulation by investors, institutions and such are evident
As we can see with our volume in the chart, in seemingly small movements, they have decent volume, showing signs of accumulation. Smart traders know that XRP is just one of those 'lag' cryptocurrencies that are a few hours/days behind, and are buying XRPs to prepare for the blastoff. The accumulation is pointed by orange arrows in the chart.
2. Elliot 5 waves completed
Elliot waves are well known for spotting peaks and bottoms. In the chart we can see the Elliot wave has hit 5 waves already. It would be smart to take this into account. This wave says that the minor downtrend is over.
3. Reverse Head and Shoulders nearing completion; when it does, all craziness breaks loose!
A reverse head and shoulders is the bullish counterpart of the famous Head and Shoulders pattern. the Reverse head and shoulders already formed it's right shoulder. To confirm, we will need to wait for price to breach the blue trendline in the chart. If it confirms, all bulls will be released from their cages, and bears will retreat.
4. MA Channel's red line gives a sharp turn, green line broken to the upside
The MA channel composed of the 10MA of the high and 8MA of the low shows a bullish signal. The Red line gave a sudden turn, while the green line was broken by the current candle. Looking back, a good break in this green line meant a powerful up move was coming. It is happening now, and with the support of the previous factors above, XRP is going to skyrocket!
5. Effective Divergence Indicator(EffDi) gives an early breakout in it's downtrend
The Effective Divergence Indicator(EffDi)'s main line gives a good break to it's blue trendline signifying a change in trend. On the other hand, the EffDi dots give a sharp rise in the first time since February 4. Bullishness is breaking loose. Get ready! (The EffDi indicator is good in spotting early changes in price trend. You can check my previous posts.)
6. XRP compared to other coins, XRP is a bearish one. XRP time to catch up
XRP as we notice is really slow performing. Looking at the previous 100% pump, XRP did it in a completely different schedule that most coins. Based on previous pumps, XRP is going to do its pump in a different time. XRP is going to catch many buyers.
Basing on these bullish factors we are in a very confident place that XRP is going to pump. Looking back on previous pumps, XRP pumped around 90-110% pump. We can expect a pump like this. Our ultimate Target Price is around 1$. The most reasonable TP is at .8$ because that is a huge resistance.
Good luck! Are you new to my posts? Like and follow for more! Regular visitor? Like and follow! lol
Drop you comments on your opinion!
XRP as explained in the previous text is ready to blast off. Proof? I have many technical and relational(compared to other cryptos) analysis. I present them to you:
1. Signs of accumulation by investors, institutions and such are evident
As we can see with our volume in the chart, in seemingly small movements, they have decent volume, showing signs of accumulation. Smart traders know that XRP is just one of those 'lag' cryptocurrencies that are a few hours/days behind, and are buying XRPs to prepare for the blastoff. The accumulation is pointed by orange arrows in the chart.
2. Elliot 5 waves completed
Elliot waves are well known for spotting peaks and bottoms. In the chart we can see the Elliot wave has hit 5 waves already. It would be smart to take this into account. This wave says that the minor downtrend is over.
3. Reverse Head and Shoulders nearing completion; when it does, all craziness breaks loose!
A reverse head and shoulders is the bullish counterpart of the famous Head and Shoulders pattern. the Reverse head and shoulders already formed it's right shoulder. To confirm, we will need to wait for price to breach the blue trendline in the chart. If it confirms, all bulls will be released from their cages, and bears will retreat.
4. MA Channel's red line gives a sharp turn, green line broken to the upside
The MA channel composed of the 10MA of the high and 8MA of the low shows a bullish signal. The Red line gave a sudden turn, while the green line was broken by the current candle. Looking back, a good break in this green line meant a powerful up move was coming. It is happening now, and with the support of the previous factors above, XRP is going to skyrocket!
5. Effective Divergence Indicator(EffDi) gives an early breakout in it's downtrend
The Effective Divergence Indicator(EffDi)'s main line gives a good break to it's blue trendline signifying a change in trend. On the other hand, the EffDi dots give a sharp rise in the first time since February 4. Bullishness is breaking loose. Get ready! (The EffDi indicator is good in spotting early changes in price trend. You can check my previous posts.)
6. XRP compared to other coins, XRP is a bearish one. XRP time to catch up
XRP as we notice is really slow performing. Looking at the previous 100% pump, XRP did it in a completely different schedule that most coins. Based on previous pumps, XRP is going to do its pump in a different time. XRP is going to catch many buyers.
Basing on these bullish factors we are in a very confident place that XRP is going to pump. Looking back on previous pumps, XRP pumped around 90-110% pump. We can expect a pump like this. Our ultimate Target Price is around 1$. The most reasonable TP is at .8$ because that is a huge resistance.
Good luck! Are you new to my posts? Like and follow for more! Regular visitor? Like and follow! lol
Drop you comments on your opinion!