Ripple has had an amazing past week, having a run from $1.879 & peaking at $3.30! (75% increase in a mere 5 days). However having retraced about 30% from the peak of $3.30. It is still seemingly managing to hold steady at $2.50 (just below the 0.5 fib retracement level) which is still a 25% increase from the high of $1.879.
We are currently slightly below the 3rd from the high achieved on 4th of Jan 2018, priced at about $2.54 (0.5 fib retracement level).
Other support levels to watch out for as we continue the move upward in a few days will be $2.77 (0.618 fib retracement) & about $2.99 (0.786 fib retracement). Next if price were to break and fall would be, $2.21 (0.236 fib retracement). These support levels could be initial targets for price to stagger around before retesting the high of $3.30 and eventually popping the cap (bring the champagne please :P).
There are 4 possible price targets to hit after popping the previous high of $3.30. These are $3.42, $3.74, $4.02 & $4.24 (marked as the green horizontal lines). There is one more extension price target on my chart but I will not include it as it seems unlikely to be hit within the next rally.
rating is 81 at the moment that I am typing this out. Still in the overbought channel, however we will have a few days of stagnant prices and it might even fall to the 4th & 5th ($2.41 & $2.21 respectively), giving us plenty of room to breathe whilst the rating falls back into the "acceptable" range of below 75.
Looks to be that the that i charted since the price of about $0.2 is finally gonna be broken in the next few days, which could cause a fall in price to the $2.41 , or maybe even the $2.21 level, if bears decide to push it down further. Not to fret though, this is a normal market correction after about 3 weeks of movement, price will regain momentum soon, I will include dates of suspected in the next section.
The last piece of TA I did and uploaded on several forums (Reddit / XRPChat) were pretty accurate for both rallies around the time of 28th of December & 4th of Jan. The next time zones according to my analysis (marked by the orange areas) would be today, 6th of Jan. The time I suspect the next big rally will be is, 14th Jan 2018, this is because the 3 week long is about to be broken and it should be at least a few days, to a week long for price to re-consolidate before moving upward again.
These time frames should not be taken to be exact, therefore, give or take a couple of days before and after for price action to pick up (hence the orange "zones").
Conclusion / TLDR
Price should stay down for the next few days to a week long, expect price to start gaining momentum heading toward the 14th of Jan.
Don't be surprised if price falls to $2.21 - that is the lowest retracement level.
Expect prices to experience resistance whilst moving up back to $3.30. Once past $3.30 it should move up to a maximum of $4.24 or slightly higher.
Happy trading! Kept gains are less pains :)
The rally started at 0.20 about a month ago not at 1.87 . All the dips were btc movement related other than the coinbase sellout which was coupled to a btc surge . A correction should be independent fro external a factors as all coins were affected from btc moves .
I understand but what would be your analysis if we take the biggest pic from .20 ? .
Fundamentals for xrp are there , good team , use case ...etc , i agree as a long term . But was wondering TA wise how it will correct if we take the bigger pic whoch is from .20 to 3.3 . Last time when it went from 0.005 to .43 it went down after a couple weeks to .11 than recovered around .20 s for 6 months . I know the market is different now .