Ripple Completing Fractal Pattern - $4+ expected in 1-2 months!
TECHNICAL ANALYSIS BY CRYPTOSWIFT
COIN: Ripple (XRP)
Analysis: Current price action has some resemblance to previous price action in December indicating a fractal pattern repeating. Based on the size of this retracement from the highs of $3, the bounce from current price of $1.10 in proportion should take us to $4+. The time frame is a little debatable, it might take 1-2 months based on the length of time for previous upticks.
Recommendation: There is a short term play to sell at $1.45 - $1.55 in a couple of weeks, representing 40% returns. I expect it to hit the resistance and come down one last time to the $1.10 region. From there we should see a strong bull run up to past $4 in a 1-2 month time frame. This will probably coincide with a rising cryptomarket in general.
Stop Loss: $0.98
Risk/Reward: 29.5x
*I am not a financial adviser. This is based purely on my opinion and from my technical analysis.
technical analysis is great, when you're dealing with a stable market. The psychological volatility involved here throws a wrench in the spokes of any logical analysis. In the end, you will probably be correct in your predictions, however, we may take a few wild turns along the way.
I baught on $0.74.
It jumps over $3.
Now XRP is coming back as quick as grew up. But I still hold it. Because whole market is red bleeded
Maybe after this coming month. Chinese New Year and Tether issues need to be concluded.
excellent analysis friend, you also have to be aware of the btc