20 EMA Pimp Slaps Ripple — Wants Money (XRP)

Friends, foes, animals and aliens, my family of crypto lovers, welcome to this update analysis on Ripple! Let's get it. Looking at the four hour chart, you can see that XRP has formed a head and shoulders pattern, as it moves around inside of the blue uptrend channel . The current action is forming the right shoulder, which could complete in the near future. You can see that the 20 EMA (in blue) has been very resistive over the past few days, and as it moves into the right shoulder, it's likely to put any rallies in check. Since we have falling overhead resistance, in the midst of the formation of a right shoulder, a completion of this pattern appears imminent. At the moment, ETH is pushing down into the 78.6% retrace. If the 786 falls, the pattern should complete relatively quickly.

Should a breakdown occur, there are a few levels of support that could cushion the fall. First, we have some support around 0.803, which is converging with the bottom of the uptrend channel , strengthening that area as support. Just below the bottom of the channel, there is a rising blue dotted trendline , which is a variant bottom that catches the low of 2/6. If we break below that, a test of the 2/6 low (0.57290) is likely to be next. For now, let's watch to see if the right shoulder completes.

You can see that XRP remains under the midline of the channel. The last time we broke under the midline of the channel, XRP tested the bottom of the channel, and then the variant dotted trendline . Perhaps a similar move will occur, since XRP has displayed an inability to rise above the midline. Ether way, the overall look of this chart is bearish . However, if a miraculous upside recovery happens, and the 50 EMA (in orange) is surpassed, a test of the top of the channel would be in the cards — an unlikely feat. I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic. Au revoir.

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-MPC loves you-

Any update on XRP?
+2 回复
this is my analasis and it the best!!................................................................................................................

nobody knows
+6 回复
galexg ronvat
@ronvat, need some attention. You should try something new and really try to look into charting. Most everyone that is smart money trades with charts, so they are at the tops and bottoms of these charts waiting for you to buy high and sell low.
What do you think about the triangle that is formed?

AlexanderStortiset AlexanderStortiset
@MagicPoopCannon What do you think?
Dear Mr. Poop-Cannon,

I very much appreciate the nuggets of wisdom you eject from your orifice of knowledge like so many pieces of corn scattered throughout an otherwise lump of detritus in the ideas section. However, may I suggest that any analysis of any cryptocurrency (except the Grandaddy of them All) is pointless if the other currency is fiat. Any pattern you identify in, for example, XRPUSD, is only valid to the extent Big Daddy Bitcoin doesn't do anything crazy. Unless you are suggesting that an alt coin has completely decoupled from Bitcoin, any big move in Bitcoin will render any moves in the altcoins vs fiat quite irrelevant.

Analyses of altcoins vs bitcoin, however, only become MORE powerful when Bitcoin goes crazy. If one identifies a massive bull pattern in an altcoin, and then bitcoin doubles vs USD, then the altcoin analysis just became a a grand slam home run. If one instead identified a bear pattern and then bitcoin doubles, it's fine dude at least you're stacking bitcoin.

Remember the words of Doc Brown getting into the Delorean. Except pretend he was asked about dollars instead of roads.

"Dollars? Where we're going we don't need dollars."
+12 回复
svhill11 SleeperWoof
@SleeperWoof, FYI...Ripple is a currency pair to fiat in Asia (and in Canada) and with Bitstamp in Europe...that means XRP against these currencies is just a legit a concern to BTC-XRP.

Remember, YoBit is 4 times the volume as Coinbase, as is Japan's largest exchange...both of which sell XRP via a fiat gateway. I would agree that Bitcoin takes up too large of market dominance, and too many coins are hopelessly tied to it. I also agree you can manipulate the market by manipulating BTC with algo BOTS. However, XRP is one that is not 100 percent tied to BTC for its purchase.
svhill11 SleeperWoof
@SleeperWoof, I meant UpBit and BitThumb...not YoBit. And Korbit. They all use the XRP/KRW pairings.
svhill11 SleeperWoof
@SleeperWoof, And BitBank uses the XRP/JPY trading pair (Japan fiat). Get the picture? XRP is traded for fiat in is well above any BTC/XRP pairing on a day to day basis.
svhill11 SleeperWoof
@SleeperWoof, Upbit traded more than 115 XRP/KRW fiat pairings in the last 24 hours....Binance traded 15 million XRP/BTC pairing. Ten times the amount against fiat in Korea's top exchange alone.
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