Proncs
Panjang

XRP Quick 4 Hour Analysis

BITSTAMP:XRPUSD   Ripple / Dollar
snapshot

Hello everyone, this is just a quick chart analysis on the 4 hour chart. As of right now we can see that a cup and handle is starting to form. We are currently in the pullback stage of this pattern forming, which means that we can possibly expect a bullish uptrend soon. That being said the sides of the cup form around $2.80-2.75. The handle is what we are currently experiencing as the price is around $2.58, a healthy pullback for this pattern. Some could consider this a weak cup with a handle, however right now the chart makes it look pretty strong. Let me know what you guys think.

-Proncs
Please keep updating this.
Looks good for me.
Balas
What if You're right with the candles but the would be red now?
It's due.
Balas
Proncs Malkaviano
@Malkaviano, Green should be coming very soon, need to go through some red to form the handle of the cup. It might dip more as coinmarketcap has now removed Korean Exchanges from being factored into mean ripple price. Some people are most likely panic selling right now.
Balas
yozzer Proncs
@Proncs, I'm wanting to buy are we at the bottom yet? It's knowing when to get in.......
Balas
Proncs yozzer
@yozzer, I wouldn't say that we are at the bottom, however at the moment it looks like we are going through the ending of a correction. I would have bought back in from the research that I have done and upcoming announcements about XRP that has yet to be announced. I always recommend however to always do your own research and never make trades off someone else's opinions.
Balas
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