MexCrypto
Long

All in on Ripple, breaking triangle

BITSTAMP:XRPUSD   Ripple / Dollar
1598 20 12
BITSTAMP:XRPUSD            

I don’t know if you guys remember my last Ripple post on October 26 these year, , well this is an update.

And I’m glad to mention that it seems that now, finally we are breaking out of a 6-month consolidation triangle on Ripple, as seen in the chart. One thing we now about Ripple, it spends almost all year doing nothing, buy then, in 1.5 or 2 months makes a huge rally, last time it went from half a cent to 40 cents, and 80 to 1 rally. Well see if we make a 10 to 1 rally on this one, from here to the end of the month. My target is from 1 to 2 dollars.

We are now in intermediate 5 wave on Ripple, according to my Elliott Wave Analysis, with a target of $2.2 dollars, as mention in my previous post, .

We’ll see how high we go from here to the end of the year. All I can say is, I’m all in on Ripple right now.

Good Luck to You
Comment: Ripple definitely broke its symmetrical triangle pattern to the upside just a few days ago, and as I mention before, the upside potential is huge from here.

However, in the short term it is facing short term resistance of 28 and 30 cents respectably, and it is a little overbought, so it is possible that it struggles to break above there for a while and maybe retrace a little.

Here is today’s news that pushed Ripple to the upside: https://www.coindesk.com/techcrunch-founder-arrington-raising-100-million-ripple-hedge-fund/

snapshot


Good Luck to You All
Ripple definitely broke its symmetrical triangle pattern to the upside just a few days ago, and as I mention before, the upside potential is huge from here.

However, in the short term it is facing short term resistance of 28 and 30 cents respectably, and it is a little overbought, so it is possible that it struggles to break above there for a while and maybe retrace a little.

Here is today’s news that pushed Ripple to the upside: https://www.coindesk.com/techcrunch-founder-arrington-raising-100-million-ripple-hedge-fund/

snapshot


Good Luck to You All
Reply
Triangle break is at 25 cents right now, since the resistance channel is declining. For a definite triangle break confirmation we need to go above 28 cents and stay there for at least 2 hours. We are getting close.
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What would you say would be a good entry point atm ? 0.15-0.16?
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MexCrypto PRO CryptoJew
@CryptoJew, 0.18 is now strong support. I don’t think it will go that low. But you can watch it on the sideline and maybe later buy it at a much higher price. Your choice.
Reply
Here's who runs the crypto markets. Not retail Asians.

http://www.zerohedge.com/news/2017-08-06/mysterious-trader-nearly-unlimited-bankroll-said-be-manipulating-bitcoin-price

Markis, Willy and Spoofy are runnig on almost all coins of substance. You can see them in the bid stacks.

Trade well!
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Would now still be a good entry point? around .23
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Dude, it has nothing to do with your Elliott Wave Count. People do not trade crypto on Fibbonacci or Elliot Wave or what not if they are main coins (top 10-20). People trade them on news.. In this case, its because of the signed deal with American Express that happened a couple of hours ago.
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MexCrypto PRO CosminAndreiRebegila
@CosminAndreiRebegila, if you do not believe in Elliott Wave Analysis or Technical Analysis that is fine. I been calling for this to happen long ago, October 26 if you remember my last post. And as I say, triangles accumulate a lot of energy, allowing an explosion move when they break. The trigger could be anything, in this case the American Express news. But the triangle pattern would support a move past just today. If this news occur after an extended run up that would be a completely different story. We’ll see.
+2 Reply
And what exactly would push it to $2 so fast?
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@JoshuaT, that is how, in the past, Ripple behave. It stays all year doing nothing, then in one or two months it flies to the moon. As it did in November 2013, wave 1, and April and May 2017, wave 3. Ripple have been inside a triangle for over 6 months, accumulating a lot of energy, and now, finally, it looks like it is breaking out. And if not 2 dollars, we'll at least see 1 dollar. But I'm expecting 2 based on my Elliott Wave Count. Well see, good luck to you.
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