$XRP
Good evening dear Binancians,
I'm trying to improve my skills as a trader and today I analyzed the monthly XRP chart and came across something amazing.
Analysis 📈
I used the Elliot Wave theory in combination with Fibonacci and came to a bullish view.
The swing highs and lows result in a massive bullish grand cycle. The impulse is confirmed using Fibonacci ratios.
For traders with harmonic patterns, an "ugly bullish Gautley" can be seen. Price is currently breaking out of this pattern.
Pump loading..? 💸
XRP has experienced massive pumps in the past that were able to last for a short time. The sell-off came quickly, due to the legal dispute with the SEC.
However, we may be facing an overcyclical pump that could be triggered by the FED testimony on Tuesday. Trend lines, Elliot Wave Count, Fibonacci, volume fit together. I leave technical indicators out of the equation.
Opinion ❔
I have a bullish bias on XRP and my analysis is confirmed by the impulse according to the Elliot Wave count. XRP has good opportunities to boom because it is a partner of the World Economy Forum (WEF). XRP has experienced several pumps. A victory for XRP/Ripple against the SEC means incredible things... that could mean a pump of the year, despite the current volume of a large cap... $5 seems to be becoming more and more realistic.
Last week there was also the moment when many people said that XRP had decoupled from BTC. This pump may sound too true to be true?😄#
Stay bullish, even if it is difficult and tedious, but wait and realize profits during the pump. React quickly!
This post is in no way intended as financial advice. You should always do your own research: DYOR. I am not liable for financial damages.
