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Thread: Ripple Analysis

  1. #136
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    XRP/USD

    The price of Ripple has continued decreasing from the last week’s interaction with the support level at $0.244 and came down to $0.20865 at its lowest point yesterday. From there we have seen an increase of 9.05% as the price came up to $0.22591 at its highest point today.



    On the hourly chart, we can see a similar picture like in the case of Bitcoin especially the interactions with the Fib level as the price found support on the 1.272. The price fell below the previous low at $0.2276 with strong bearish momentum indicating that we are still in a corrective stage of a higher degree and invalidating the possibility of the developing impulse wave.

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    XRP/USD

    From last Friday when the price of Ripple came up to $0.23307 we have seen a decrease of 5.78% as the price came down to $0.2199 at its lowest point yesterday which is again currently being retested for support.



    On the hourly chart, you can see that the price is made a five-wave recovery similar like on the chart of Bitcoin and formed an ascending triangle. With the price decrease now retesting the horizontal support we are yet to see if the support is present.

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  3. #138
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    XRP/USD

    The price of Ripple has decreased by 4.4% from yesterday’s open at $0.23235 as it came down to $0.22215 at its lowest point today. Last week on Thursday a minor recovery has started and pushed the price above the 1 Fib level but since then a minor retracement has been made below it. This could be an early indication that the price decrease would continue further as the level hasn’t served as support.



    On the hourly chart, you can see that the price of Ripple moved sideways since the interaction with the 1.272 Fibonacci level and reached a prior high level without surprising it before another downturn started. As the price made an ascending triangle on the previous increase and then went on to decrease on a higher low this could be the start of the 3rd wave to the upside out of which we are seeing the 1st sub-wave.

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    XRP/USD

    The price of Ripple has fallen below $0.2 mark for the first time after in two years. The downfall was made from $0.21881 on yesterday’s open to $0.19031 at its lowest spike today. Currently, the price is being traded at $0.19865 and is showing minor bullish signs.



    Looking at the hourly chart, you can see that this downfall is like in the case of Bitcoin expected to end shortly as we have seen interaction with the descending support level with a large wick from the buyer’s side. The price would be expected to start moving to the upside now but potentially maintaining in a downtrend as it can be corrective in nature.

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    XRP/USD

    The price of Ripple has also followed the market and increased significantly since the start of the year coming from $0.18542 on the 3rd to $0.226 on the 6th but fell back below to $0.2 on the 10th. From there we have seen another round of interest as the price increased by 12% as it came up to $0.22483 at its highest point today, coming to the previous high vicinity.



    On the hourly chart, you can see that the price found support at the significant level intersection between the descending trendline and the horizontal support level at $0.1893 from where the price increased exponentially moving in a parabolic manner. As this resulted in a recovery of over 21% it indicates bullishness but we could be still seeing a corrective recovery like in the case of Bitcoin before further lows are established.

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  7. #141
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    XRP/USD

    From Sundays high at $0.2514 the price of Ripple has depreciated by 10.67% measured to the lowest point the price has been so far which is at $0.2246. At the moment the price being traded slightly higher at around $0.2365 and is in an upward trajectory.


    On the hourly chart, you can see the since the interaction with the $0.18939 horizontal support level we have seen an exponential increase in a parabolic manner for the price of Ripple of around 34%. Considering the amount of the price increase we could have seen the completion of the five-wave move to the upside but it is still unclear which structure it belongs to.

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    XRP/USD

    The price of Ripple has increased by 9.76% from last Friday coming from $0.214 to $0.235 at its highest point today. Currently, we have seen the momentum slowing down but the price is being traded around those levels.



    On the hourly chart, you can see that the price came above the 1 Fibonacci level but is struggling to continue moving to the 0.786 and unlike in the case of Bitcoin is far from the prior high. As we have seen a decrease of 15.76% from the “yearly high” to Friday’s low, this increase could be a corrective one and would be the 2nd wave out of the higher degree ABC correction.

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    XRP/USD

    From Sunday’s high at $0.26198 we have seen the price of Ripple decreasing by 5.6% as it came down to $0.24731 on the next day. The price is currently being traded slightly higher but is still around the vicinity of the yesterday’s low.



    Looking at the hourly chart, you can see that the price of Ripple made a higher high compared to the previous one around $0.25 which could be interpreted as the 5th wave out of the five-wave move to the upside. The increase was stopped out at 0.618 Fibonacci level which makes this level as a significant resistance point and is most likely going to serve as a pivot point between a bullish scenarios in which the price of Ripple is to continue increasing from here or a bearish scenarios in which the price of Ripple could start moving to the downside as the C wave of a higher degree ended.

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    XRP/USD

    Ripple has decreased by 6.64% today as it came from $0.2873 at it’s highest point yesterday to $0.26830 at it’s lowest today. The price is still being traded around the levels of today’s low and is retesting its vicinity for support.



    Looking at the hourly chart, you can see that the price has come above the significant horizontal level at $0.26617 last Wednesday and managed to stay there over the last week but has now come back to retest it for support. This minor retracement has been made at the intersection with the mentioned horizontal level and the lower ascending trendline which is presumed to be the support level of the ascending channel which started forming from the 24th of January.

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    XRP/USD

    The price of Ripple has decreased more compared to the price of Bitcoin as it came down by 19.73% from Saturday’s high at $0.33982 until yesterday’s low at $0.27 but managed to recover by 8.51% since then and came up to $0.29338 at it’s highest point today. At the moment the price is being traded at $0.2844 and is struggling to stay above it’s significant horizontal support level.



    As you can see from the hourly chart, the price came up to the significant horizontal resistance at $0.29405 and got rejected there which is why we have seen a retracement back to the first Fibonacci level in line to the downside but the rejection momentum is still pushing the price further down. If this trend continues the price is likely to be headed down to the next Fib level in line which would push the price into a $0.275 range.

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    XRP/USD

    On yesterday’s open the price of Ripple was $0.2839 and from there to it’s lowest point today so far which is at $0.2626 made a decrease of 7.51%. Like in the case of Bitcoin, Ripple’s price is also still hovering around those levels. but unlike Bitcoin, Ripple’s price chart made a lower low compared to the previous one at around $0.267.



    As you can see by looking at the hourly chart the price made inside the territory of the lower range below the significant horizontal level at $0.266 where the 0.5 Fibonacci level is. This could be an early indication that the price is going to continue moving to the downside potentially even below the 0.786 Fibonacci level which was outlined as a scenario in the previous analysis but the decrease could stop on some of the higher support levels like the 0.618 Fib or the $0.24730 horizontal.

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