RIPPLE seems already overbought, but my count suggests, that there is still a possibility for a huge extension.
If you see a price movement like this, expect yellow wave 5 to be around 7$ or higher!
The BTC pair shows even higher potential... But let's not get crazy about it yet.
I will calculate yellow wave 4 and 5 once yellow wave 3 is done.
For me this means, that I will HODL my XRP and monitor it closely, because there are a few other possibilities.
Why did I count it like this? Well, you need to be able to read the subwaves to come up with a count like this. I opened 4 different timeframes in XRP simultaneously and checked if everything would fit the subwaves and if it doesn't violate any Elliott Wave rule.
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If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
MUST READ!
DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
Thanks for the post I have unfollowed a lot of people but I must say I am only going to keep the cream of the crop and You passed that test nice job
Wow. As high as $7. That would be some extension. Fingers crossed.
I upvoted your post purely because of the way it looks. I love the format.
Nice post.
In crypto the crowd is mostly new and inexperienced, all the psychological effects like FUD and FOMO are more visible. Good traders say crypto is easier to trade because of this.
It is a lot easier without the bots and trading algos, believe me.
plz back up vote
Upvote and resteem. I am angry that I sold a huge batch of Ripple a few months ago. It wasn't moving and I was pissed-off...
Now you can buy it back, I will be:)
I have to disagree, @ew-and-patterns. The CoinBase announcement has broken the up-trend for Ripple. I have sold all my XRP today after I read the news.
Interesting post but I think a lot of the Ripple hype was based on the idea it was going to soon be added to Coinbase. Coinbase since then has openly came out stating that NO new coins will be added to their platform in the short term, and after there BCH mess, they aren't going to lie/mislead about that as they would get even more backlash this time if they did. XRP still has a lot of room to move, but I don't think its going to hit much higher value in the next few weeks or even months, but I guess only time will tell.
For me any fundamentals or news don't matter. EW states that news will arrive to justify the count, not the other way around.
But if you believe in fundamentals or news then yes, this might be something to keep an eye on.
I personally make decisions purely based on my TA and nothing else.
They will eventually list XRP. I'm sure of it. Coinbase didn't say they won't list XRP. They won't list it in the near term. When the finally list XRP we'll see the end of wave 5
I agree, I am just saying that most of the current FOMO is based on people making the assumption that XRP was going to be added to coinbase in the next few days, but based on Coinbase's recent statement this appears to not be the case.
Any Ripple bought is overbought.
I am trying to buy Ripple but all authorized exchanges are either blocked new registers or take too long to verify KYC in India. Hope I can catch this wave before it is too late.
Take this as a sign, ripple is not a crypto currency. It was created by the banks for the banks. The whole reason this space exists is because of the banks fooling around. Think long and hard about what you want to be holding.
Wow
Thanks bro
I think Ripple will have a great future because his strategy is good in the digital currency world
the potential for growth is still enormous and it ha sa long way to go, once the correction is over we might see another surge. until them am on HODL
Ripples all the way I hope it's future is as bright as ever
Thank you very much for the daily news about the xrp . Have a nice day @ew-and-patterns
Yup Hodl the Ripl. I need to buy some more ripples though.
I just follow you cause your posts seems to be informative post you can find similar crypto news on my steemit that might be productive for you too...
good information @ew-and-patterns I really like about your post.
What's your timeframe on the next move for Ripple? I have been looking at it from a fundamental point of view and noticed the different reasons for its sudden growth - with a lot more partnerships coming in 2018, I see more growth happening. I do think it needs a correction at some point before it can skyrocket again.
Predicting time or timeframes is not useful in my opinion. In EW time does not matter much. It is much more useful to know the general direction and to predict good entry levels and exit levels.
There will always be bigger and smaller corrections along the way which serve as entry levels. I only buy cryptos when in red.
I see XRP instead, XRP can come down abruptly because the price is too low and switch other cryptocurrency. Although the number of second largest market cap and curculating supply is the largest compared to other crypto currency.
I love the format. Good job
Ripple + over brought are not things i understand when combined into 1 sentence ... ;)
it is really a nice analysis,such brilliant insights are required,i appreciate your efforts to fight ignorance within the steemit community,you are such a blessing to us
Make sure to sell the most over-inflated bubble in the space.
a solid post..
Hope it fucking crashes!!
Is there a downvote button some where, i'd like to down vote this comment.
I heard a lot of negativity about XRP, what if they are correct and bank who back XRP dump the coin for there gain and pump again. I have some on my holdings. Do I sell or Hodl?
I actually bought about 756.67 XRPs @ 0.0001953 BTC/XRP on poloniex but I am expecting it to reach a price of about 0.00024000 BTC/XRP do you think this a fair rate at which I am planning to sell it.
I cannot give investment advise, I can only tell you what i am doing. Best of luck ;-)
I just wanted a second opinion
not a big fan of ripple but cannot down play its progress, you put together some great visual graphs
Are you telling me it's time to buy ripple now?? I guess I'll wait for the dip.
good and mervalous
Coinbase Rejects Ripple Integration Rumors, Currency’s Market Cap Drops $22 Billion, I am no longer buying for high price. Let it reach a correction of 1.5 again then I will think of buying more.
thanks for the good content
Go Ripple!
I hate XRP but its making me so much right now. I keep saying I'm going to sell, but then I keep on seeing things like this. I don't trust it, but want to cash out at the right time.
Do you have a recommendation on a good tutorial/book about Elliot Waves?
I don't have a good book recommendation in english. But under every one of haejins blogs, he posts his past tutorial videos which you can watch on youtube. They are excellent and a good place to start. If you have gone through it all you can buy some books to deepen your knowledge and get started counting on your own.
To know more about Ripple, Follow the link..
https://steemit.com/vincentb/@pratyush149/ripple-xrp-the-cryptocurrency-the-banks-control
check out my ripple technical analysis on my page
It is coperationg with banks and governments and is in no way a decentralized coin like most others.