Ripple | No Exceptions (Long-term, Full Analysis)

21 בנוב׳ 2022

Ripple (XRPUSDT) looks like the rest of the market... Let's read the chart.

Here we can see the peak happening April 2021.
In November 2021 we clearly see a lower high.

When we look at Bitcoin (BTCUSD) we see a new peak in November and this is confusing some people.

For chart reading purposes the peak happened April 2021.
Using November 2021 as the peak can really mess up your calculations.
Ripple makes it clear when the peak happened.

We are looking at the weekly timeframe which gives us a long-term perspective.

Looking at the charts short-term can be really dangerous as the signals change everyday, what you see today can be gone the next day.

XRPUSDT has been in a downtrend since April 2021.
That's 588 days or 1.61 years.

We normally see a bottom form within two 2 years after prices peak... Telling us that we are near this cycle low.

Sept.-Oct. we have a stop-loss hunt event, liquidity hunt or we can also call it a rejection at EMA50.

Actually, it is not a rejection, this is just the "market" (whales and centralized exchanges) liquidating short positions.

Why liquidate shorts?
Because we have a downtrend which signals lower.

Anyway, the June low is still intact and this is the main/critical support.
This level stands at $0.2879.

Since we are in a downtrend, this is where Ripple is aiming next (and lower).

CHANGE
It looks pretty bad... Ripple needs to trade above EMA50 ($0.5197) before the bulls are back in control. Any trading below this level and the doors continue open for a major drop.

Anything else?
The bullish wave lasted only 399 days.
With the bearish wave already at 588 days... We are very likely reaching the end.

See my Bitcoin artcile in the related trade ideas below.
It says within 1-5 months for a bottom and recovery.
What one does, the rest follows.

Thanks a lot for your continued support.

Namaste.