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Charting the course of XRP

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15 hours ago, ManBearPig said:

Looks like xrp testing .30 resistance a couple times today. It’s trying.

I'm more concerned that we keep testing .29 as a support. Test it too many times and it'll break with a fury. 

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17 minutes ago, baobeiiiii said:

I'm more concerned that we keep testing .29 as a support. Test it too many times and it'll break with a fury. 

Nah no need to worry.  It’s as rock solid as 45 was,  and 38,  and 32...     :) 

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33 minutes ago, Tinyaccount said:

Nah no need to worry.  It’s as rock solid as 45 was,  and 38,  and 32...     :) 

This is how XRP works.

Test resistance many times (0.30) = Never breaks through no matter how many times it bounces.

 

Test support many times (0.29) = Only a matter of times before it dunks in a matter of seconds and then later turns this into a resistance.

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1 hour ago, AlejoMoreno said:

This is how XRP works.

Test resistance many times (0.30) = Never breaks through no matter how many times it bounces.

 

Test support many times (0.29) = Only a matter of times before it dunks in a matter of seconds and then later turns this into a resistance.

I like what the TA people say about XRP being bullish, a part of me believes (gut feeling) that XRP is really still in an accumulation phase and not fully established the bottom of the cycle. XRP is pretty much unique in having gone up 33,000% in 2017 in two runs, and to my way of thinking is still building the energy needed to start the next run. 

Edited by Julian_Williams

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2 hours ago, baobeiiiii said:

I'm more concerned that we keep testing .29 as a support. Test it too many times and it'll break with a fury. 

This tight trading band between .29 - .30 is interesting. The longer we bounce between here the hard we snap out of it. The big questions is up or down 🤷🏻‍♂️.

A fair amount of the good TA guys were spot on with their predictions a few months back, but this current trend has a lot confused now. Some EWT people seem to have this trend on their charts, but generally I think a lot of TA folks are perplexed. 

Jesus take the wheel.

 

Edited by Palerider
Typo

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20 minutes ago, Julian_Williams said:

I like what the TA people say about XRP being bullish, a part of me believes (gut feeling) that XRP is really still in an accumulation phase and not fully established the bottom of the cycle. XRP is pretty much unique in having gone up 33,000% in 2017 in two runs, and to my way of thinking is still building the energy needed to start the next run. 

That is what I am thinking the more and more I see how the action is shaping up as well.

I think some of the TA people may be right about a squeeze at some point but I think the overall cycle is still down unless the entire market sentiment shifts.

If the price spikes before the end of the year I think the overall downtrend will still continue after that.

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Here's a triangle that I was watching last night that broke like it should.  Unfortunately, it broke down rather than up, but at least it was a reliable pattern.  Charting has been difficult these past few weeks, as noted in some of the posts above.  Anyway, we are forming another triangle (small one) that I expect to break down again until we hit the trend line, following the EW pattern that I have laid out.  Nothing has changed for the long term outlook, I expect us to get up over $0.40 in relatively short order.

EDIT:  On closer look, it is actually an ascending triangle that we are forming, which should break up not down.  It's a small one and ultimately not consequential, but still fun to watch.  Around 3:15 pm EST today.

wSwUyBRv

Edited by Guest

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The LTCUSD triangle continues to be delayed as new bounces come in but the pattern looks very valid to me.  It is now set to break (and this, I would say, is final answer) tomorrow evening (in the eastern US).  This triangle is being formed as part of a bullish uptrend after a break of a falling wedge, so I still expect up.

EDIT: Corrected about the MA50, was looking at wrong time frames.  LTC has been below the daily MA50 for some time.

E8mk1jPb

Edited by Guest

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Zoomed out view of the bigger picture.  I will keep posting these as the chart matures to see how this call ages.  I hope well....

KOwcETCp

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Total indecision on the BTC chart.  We had the death cross a few days ago, but remain above the bearish trend line, as well as above the MA50 and MA200.  RSI shows nothing too exciting.  Total standby here, just waiting.

R0BV3l2T

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47 minutes ago, Molten said:

Total indecision on the BTC chart.  We had the death cross a few days ago, but remain above the bearish trend line, as well as above the MA50 and MA200.  RSI shows nothing too exciting.  Total standby here, just waiting.

R0BV3l2T

The last two words just summerized the entire thread. :beach:

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2 hours ago, AlejoMoreno said:

That is what I am thinking the more and more I see how the action is shaping up as well.

I think some of the TA people may be right about a squeeze at some point but I think the overall cycle is still down unless the entire market sentiment shifts.

If the price spikes before the end of the year I think the overall downtrend will still continue after that.

For the time being XRP will not run up with BTC and it's not necessarily true that BTC rise will float all tides. BTC will rise at the expense of XRP sats value, until BTC whales decide to move money to XRP and XRP outguns BTC by a big margin. There will be small ripples here and there but there is no change in the trend for some time.

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23 minutes ago, MQB said:

For the time being XRP will not run up with BTC and it's not necessarily true that BTC rise will float all tides. BTC will rise at the expense of XRP sats value, until BTC whales decide to move money to XRP and XRP outguns BTC by a big margin. There will be small ripples here and there but there is no change in the trend for some time.

What empirical evidence do you have to support this view?  Or do you just like BTC more than XRP, so this is what you think will happen?  Sounds like the latter to me.

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