Hi all. It has been a while since XRP is strolling around $0.3333 where we addressed this.
However, this equation will be broken between 9-20 September according to the daily indicators.
1 Day Time Frame
Currently, XRP is on the sideways, however proceeding with higher lows. RSI for the Monthly time frame is at its lowest, which means XRP is oversold in the monthly charts as well.
XRP kept the support trend by staying above $0.3333 yesterday as can be seen with the 2 consecutive bullish pin bars. Today as you also see, she is slightly above the $0.34531 which is a Fibonacci level just above our magical $0.33 level.
In terms of Ichimoku clouds, XRP is now just below this level. My expectation is that XRP is preparing herself to break the current side moves.
The question from you is, WHICH WAY? Correct?
RSI Daily Indicator
We had an ascending RSI channel which was bullish and that support was broken. XRP is currently close to the oversold area considering the below indications.
When we consider the daily, weekly and monthly RSI Indications, XRP is oversold and can make her move anytime. However, some indicators such as Wave Trend interprets that XRP has still in a correction phase.
For this ABC correction since 2017 on the monthly time frame, there are 2 ABC wave options I would like to share with you.
Orange: Expanded Flat
Blue: Regular Flat
XRP is on C wave now. And she will define in a few days whether she is on Irregular or Regular C Wave...
If we are in a Regular correction pattern, the correction is Over. If XRP continues the irregular type of correction, our $0.22 target could be the case.
Whether Orange or Blue, my personal expectation is that XRP is So Close to ending the 5 years of Correction and Brighter Sun will rise upon her.
5 Years of Correction are coming to an END. As soon as it's over, the targeted $13-$30 will be the initial step technically although most of the nee sayers exist. This is not a hope, but mathematics.
XRP is about to decide where she is heading, we are so close to the end of correction. When most are in fear, I am brave. When most are in euphoria then I feel fear of the markets.
Where are we now? Are you afraid of the markets or are you in euphoria?
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As always, Important Note: None of the targets represented here is financial advice. Do your research in due diligence and take responsibility for your decisions & actions when buying or selling an instrument.