XRP Double Descending Wedge Within A Macro Descending Wedge

2 Apr 2021

XRPBTC


I've added text to explain various parts of the chart. If there's any questions feel free to add them in the comments.

Having a look at the more recent XRP chart pattern (2017 onwards) rather than from 2014, I've noticed that XRP/BTC is in a very large descending wedge ready for breakout!
^ Without logarithmic turned on

Within that macro descending wedge, there appears to be 2 major descending wedges.. The first wedge lead to a breakout of over 100% (to be halted by the macro wedge), And the 2nd wedge has just broken late March & primed to attempt a macro breakout!

2 Apr 2021

Catatan

^Closer look at the recent wedge breakout

2 Apr 2021

Catatan

^ Previous idea posted for the XRP/USDT pair

2 Apr 2021

Catatan

^ 2nd Idea posted for the XRP/USDT pair

2 Apr 2021

Catatan

^ My other idea posted for the XRP/BTC pair on a logarithmic scale

3 Apr 2021

Catatan

PA update for the ascending triangle on P&F for the USDT pair

3 Apr 2021

Catatan

Line break for the USDT pair on 1hr

3 Apr 2021

Catatan

A closer look at immediate resistances for the USDT pair with renko set to 1hr bricks

3 Apr 2021

Catatan

Here is a nice & clean look at support & resistance areas for the XRP/BTC pair on a renko chart

3 Apr 2021

Catatan

Reduced brick size to spot the early reversal

3 Apr 2021

Catatan

What's that famous saying? "Be fearful when others are greedy, and greedy when others are fearful"
This is applicable to the current situation with XRP...
Buy the fear..
Sell the greed..

I've had a closer look at the weekly chart against BTC for XRP & noticed some more bullish signs:
- VMC's market cipher B shows a triple bullish divergence on WT (on the weekly scale)
- VMC showing bullish divergence on stochastic RSI as well
- MacD bullish crossover just occurred
- Buy signals flashing on VMC B
- Appears bottomed out (Confirmed via other charting methods e.g renko/P&F/Line-break)

Now, with the declining price, increasing volume and strong bullish divergences in a very strong support area for the XRP/BTC pair, this could break out at any moment...
Buy the fear..

3 Apr 2021

Catatan

Looking at just demand only with a P&F chart, we are in an area of demand for XRP that's only been visited 3 other times, each with a major breakout & price move up

3 Apr 2021

Catatan

Here's a closer look on the 3-day chart

3 Apr 2021

Catatan

Weekly view

5 Apr 2021

Catatan

Triangle almost broken

6 Apr 2021

Catatan

The ascending triangle on Point & Figure broke out!

16 Jul 2021

Catatan

Gold vs XRP is extremely bearish atm & looking like XRP is set to make a major move up against gold:

16 Jul 2021

Catatan

Silver vs XRP very bearish for silver, looking like XRP is ready to make some major gains against it!!

13 Sep 2021

Catatan

look familiar?