My dears, today I would like to share three indicators about the current XRP status.
1. MACD, Monthly
Monthly Average Convergence / Divergence is one of the best indicators of most indicators. It is a trend momentum indicator and helps us to understand the relationship between two exponential moving averages (EMAs) of a cryptocurrency or security’s price.
Below we see the 2018 bull run and then the A wave expansion towards the $1.96 top on April 2021, which we call Wave B of corrective Grand Cycle Wave 2 (ABC) and the current un-completed Wave C of the Grand Wave 2.
MACD signals that we are still on Wave C, which is about to be completed.
Above, it is clear that the red & pink bars are in action currently as we had around 2020. In 2023, we can expect the bull run obviously.
As a summary, MACD is still in correction and expected to finalize in 2023
2. Wave Trend Indicator, Monthly
The wave trend indicator is also one of the most significant indicators among the others. Similar to the MACD Wave trend, the monthly chart gives us a clear idea of where the XRP position is.
Above we see a green signal before the 2017 Bull Run, where we are almost very close to that level. The third green signal from the left at the bottom is again the $1.96 B Wave run in 2021.
The second green signal from the bottom left is fake, or we can call it dead cat bounce, where we had almost the same and expected to finalize a move around $0.73 but couldn't break the $0.55 like the wave in 2019.
It seems we had the similar one recently. But at the end, the green signal is close in Wave Trend.
3. Ichimoku Clouds
Well, this is one of the best indicators I like the most. It is clear how to talk about the bull run or any green signal in Ichimoku clouds; we MUST be above the clouds (depicted in pink block), where the minimum level sits above $1.66.
When we discuss the $1.66+ levels, we will be more confident about the $13+ levels and we welcome the bull run for XRP.
Please see the 5 Wave structure (wave C) of the Grand Wave 2 structure in black above. We are in wave 5, the last corrective wave, where we currently can target 22-9 cents.
Grand Wave 3
We discussed the grand finale of the grand structures days back. Grand Wave 2, the corrective wave, has five waves, and we are in the last wave of 5.
XRP will be on Wave 3 after the correction. We will see extraordinary moves above $1.66+, where we highlighted this is the Ichimoku clouds dip and towards $13.
These are technical price levels, and it is a matter of time and patience to reach them.
As always, I'd like to point out that none of the targets represented on defenddark.net and defenddark.com is financial advice. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.