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Thread: Ripple Analysis

  1. #121
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    XRP/USD
    From last Monday till Friday the price of Ripple has decreased by around 12% coming from $0.33141 to $0.2908 at its lowest spike but started recovering over the weekend when it reached $0.3065 on Sunday. Since then the price has been decreasing again as it fell to its most significant horizontal support level at $0.29405 which was retested for support. Currently, the price is being traded slightly higher as the support was there but there haven’t been any signs of interest for the buyer’s side since then as we haven’t seen a strong recovery.



    The price is in a downward trajectory which can lead to another test of the horizontal level but the price could continue moving below the significant level as it might not hold for much longer. Considering that the price fell by 42% in one go from the 1.272 Fib level where it got rejected and has formed a horizontal range with a lower high, this range could be interpreted as a consolidative move before the downfall continues.

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  2. #122
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    Last week on Wednesday the price of Ripple has broken its significant horizontal support level at $0.29405 and continued moving past the next one at $0.26617, reaching $0.25503 at its lowest on Thursday. From there we’ve seen a recovery of 15% until Sunday when a retest of the broken support level has been made, but as the interaction ended as a rejection another downturn occurred with the price currently trading at $0.27391.



    On the hourly chart, you can see that the price of Ripple is stuck in another horizontal range below the previous one but above the lower horizontal support level which didn’t prove to serve as a significant one. This is why believe that the rejection occurred at the significant one is to lead the price of Ripple lower but another retest might occur before another downturn starts. If the price manages to come back above the horizontal level it could mean that the downfall was overextended as the price of Ripple decreased by 49% from its recent high slightly below $0.5 level.

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    XRP/USD

    The price of Ripple has been attempting to hold above its lower horizontal support level at $0.26617 which is below the significant one at $0.29450 and has formed a symmetrical triangle which could be interpreted as a bearish pennant. The pennant is known as a trend continuation pattern which is why we could see a breakout to the downside but the price of Ripple is at its lowest levels since September last year and has fallen by over 50% from its yearly high which is why we could see the level holding with the recovery to the upside starting soon.



    On the 4-hour chart, you can see the significance behind the $0.26617 level as there aren’t any horizontal support levels close below it. If the price continues moving to the downside below this support level and we see a breakout with strong bearish momentum the next significant support level which could stop out the sell-off would be at $0.22 but the furthers one could even be at $0.1518.

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  4. #124
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    XRP/USD

    The price of Ripple was $0.27788 at its highest point on Monday from where we’ve seen a decrease of 10.34% at its lowest point to $0.249 made on Thursday but as the price came down to its lower horizontal support level and found support there a minor recovery has been seen of around 6% as the price came up to $0.2645.



    Looking at the hourly chart, you can see that similarly like in the case of Bitcoin the price of Ripple has broken out off of the symmetrical triangle and started moving to the downside but made a recovery to its broken horizontal level for a retest. Unlike in the case of Bitcoin, the recovery seen is a minor one which could mean that the recovery would continue but as the price reached the vicinity of the upper horizontal support which now serves as resistance we could see a rejection.

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  5. #125
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    The price of Ripple has been stuck in a horizontal range from $0.24730 with its median line being the Monday’s low at $0.25393 and its resistance level being at $0.26617. From last Monday’s low which was an interaction with the median level we’ve seen an increase to its resistance level but another minor retracement after the interaction ended as rejection with the price currently sitting at around $0.26.



    On the hourly chart, we can see that from the yearly high at around $0.5 the price of Ripple has been nothing but decreasing and has depreciated in value by slightly over 50% coming below the most significant horizontal support level at $0.29405 when it was also stuck in a horizontal range and continued to breakout to the downside. Will the same pattern develop and we are to see further downtrend continuation it is still unclear but the current horizontal range could be interpreted as a consolidative one from which recovery is to take place. A breakout from either side is going to dictate the longer-term trend development which is why the horizontal range outline levels are serving as pivot points.

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  6. #126
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    From yesterday’s low at $0.2576 the price of Ripple has increased by 6.73% as it’s currently being traded at $0.27495 and is in an upward trajectory. Last week the price of Ripple has been stuck in a horizontal range between the horizontal resistance at $0.26617 and the 0.2526 support but today we’ve seen a breakout to the upside.



    On the hourly chart, you can see that the momentum behind the increase looks strong and with the price breaking its significant horizontal resistance. The price increase is likely to continue for a bit more until it reaches its upper horizontal resistance around the $0.27843 or the next one at $0.29405. After the increase ends I would be expecting a retracement back to the broken horizontal resistance as a retest of support and if the price manages to hold above it, it could indicate the start of the recovery. But if the price fails to hold above it and instead enters the lower range it would more likely mean that the increase seen was corrective and that the downtrend would continue for another lower low before a recovery can be made.

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    From last Wednesday when the price of Ripple was at its highest point since the 6th of August and was sitting at $0.32103 we have seen a decrease of 17.09% measured to the lowest point the price has been today at $0.26617.



    Looking at the hourly chart, we can see that the price came down to the significant horizontal level which was the resistance level from the horizontal range in which the price has been consolidating before breaking up to the upside above the more significant one at $0.29405. This seen bullish action could have been corrective as the third wave from the correction that began on the 16th of July.

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    The price of Ripple has decreased by 30.19% from the 18th of September when it spiked to it’s highest at $0.32504 measured to the last Tuesday’s low at $0.22725. From there we’ve seen a recovery starting to develop with the price reaching around $0.26138 today which is a recovery of 14.72%.



    On the hourly chart, you can see that the price came down below the lower horizontal level on the previous downfall which was the support level from the horizontal range in which the price has been consolidating after the mentioned spike to the upside. This strong bearish momentum had led the price into the buyer’s territory which is why buying was activated but considering the vicinity of the upper horizontal level which now serves as resistance, it is unclear whether or not the increase would continue.

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    XRP/USD

    From yesterday’s open at $0.2535 the price of Ripple has increased by 11.88% as it came up today to $0.28528 at its highest point. Currently, the price is trading slightly lower as interaction has been made with the 0 Fib level which is the lower level of the significant horizontal support zone around $0.294.



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    The price of Ripple has reached its significant horizontal resistance at $0.29405 today but is currently being traded below it as interaction ended as a rejection. From last Friday when the price was trading at $0.2659 we have seen an increase of 12.48% as the price has been developing its 5th wave to the upside.





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    From last week when the price of Ripple came up to around the significant horizontal level at $0.29405, we have seen the price moving sideways. Currently, it is above the level and in an upward trajectory, but we can’t say that a breakout has been seen as it failed to exceed the prior high, made on the first attempt.





    On the hourly chart, you can see that the price is still in an upward trajectory overall and is still inside the territory of the ascending channel formed from the $0.226 low. As I have counted five waves the move should either be the 1st wave of the higher degree five-wave move to the upside and considering the channel it could very be the first wave. But if we have seen the first wave ending now the second one should start developing to the downside and potentially retest the $0.247 level for support.

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    The price of Ripple has today interacted with the ascending trendline which served as support but now serves as resistance which is why the interaction ended as a rejection



    As you can see from the hourly chart, after a retest of the $0.26617 significant level which served as support the price spiked up again above the most significant one at $0.29405 on Friday and was retesting it throughout the following days.

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    The price of Ripple has increased from yesterday’s low at $0.2903 by 5.55% as it came up to $0.3064 at its highest point today. Currently, the price is being traded slightly below the $0.3 mark but the price is in an upward trajectory overall.



    On the hourly chart, you can see that the price made a breakout from the triangle which formed after the second attempt for the price to maintain above the significant horizontal level at $0.29405 failed. As the price has shown signs of bullishness after it managed to hold above 0 Fib level the seen increase could be the first sign that the price is to hold above the horizontal support but we could be seeing another corrective increase that is to retest the seller’s territory above.

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    From last Thursday when the price of Ripple reached its high at $0.31222 measured to the current level at $0.2703 we have seen a decrease of 13.58. The price is still in a decline and is getting close to the vicinity of the prior low and the horizontal support level at $0.26617 so we could see interaction with the level before an upturn.



    On the hourly chart, we can see that the price is in a decline after another ABC correction to the upside ended but the wave structure is impinging impulsiveness. From the 26th of October when the price was sitting at its lowest in while we have seen a five-wave increase inside an ascending channel after which two corrective structures developed. This means that the current downfall could be the 3rd structure out of the higher degree correction.

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    XRP/USD

    From yesterday’s high at $0.266 the price of Ripple decreased by 8.27% as it fell to $0.24407 at its lowest point today around which it is currently being traded. The price fell sharply to the 0.786 Fibonacci level and found support above the ending point of the previous 2nd wave.



    Looking at the hourly chart, we can see that after the five-wave move to the upside ended we have seen two ABC corrections with the decrease from the 7th of November being its third one. If this third ABC correction ended and it looks like it could have, now we are to see the start of the next five-wave move to the upside.

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