My previous analysis isn't looking so bad anymore!
MoneyGram gave XRP a lease on life. We looked certain to collapse after dipping off of the long standing bullish trendline last night, MoneyGram news bolstered XRP and pushed us back into that bullish trendline.
This also serves as a reminder that there are many new big announcements coming, and much of the sell offs that occured over the past couple days are now building long positions.
We're in a pennant between the red downwards trend and the long standing dark blue bullish trend, and this coalesces at the blue circle. I fully expect this to break long, and to do so in a big way. We'll possibly follow the light green trendline established on the dip earlier today following the blue circle, but at the very least will follow the dark blue trendline until 2.48, but I expect a breakout following that in a big way.
I expect a new ATH by this time next week. Calling at least $5 by end of January.
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Mild concern as we break bearish under the blue support twice- but the positive I take from that is that the 2nd low was higher than the previous. We're still making higher lows. Looking to enter into the blue circle straight in the middle, and watch the tug of war that will occur between bulls & bears. Get your popcorn ready....
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RED LINE BROKEN
I expect the buyers to come in now we're officially bullish.
Next stop, $5!
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Divergence is too strong from the blue line. Calling this idea done, we'll likely bottom out at the lower support, around 1.80 before bulls can mount another push upwards.
this graphic still working... i think the buyers hesitant. if XRP positive news came again, it will rise up to $ 3
handy67
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good stuff , I appreciate the info . brother ...
2014S
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on the money...gram!
tradeformula
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@2014S, I'm very glad price action is sticking with that trendline. It has a great trajectory for the future and will be difficult to break after this recent crash. Galvanized. Has us at $15 by September.
MatthewRybicki
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@tradeformula, $15!!?? really? my god, i have over 131000XRP atm do you know what that equates too??? holyyyyy
MatthewRybicki
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@MatthewRybicki, I will definitely be providing you a thank you tip if its even half that!
tradeformula
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@MatthewRybicki, Ha thanks! I'm just saying- if the current blue trend remains, then that's where we'll be. I simply extended the line and opened up the chart. I do think it's conceivable, as growth in 2017 was MORE than that- at this point, we'd need 8x growth to achieve that. We've done that over the past few months.