It is no secret that InvestingHaven’s research team is a long term fan of XRP. While XRP has recovered moderately since the July 21st, 2021 bounced it has one of the most beautiful long term setups. In this post we feature 2 distinct long term patterns in XRP. Eventually, our XRP forecast will be achieved, it just looks like the market is moving slower than our XRP forecast(s).
The first long term XRP setup is a rounded pattern that now spans over almost 4 years.
This is a bullish reversal, and a very powerful one.
Last week XRP came down to ‘test’ the border of the rounded pattern. The market gives a very powerful message: this long term pattern is still in play. And one thing is clear to us: once 1.90 is cleared XRP is an ‘open sky’ play (this term doesn’t officially exist but our research team uses it internally when an asset has no overhead resistance).
This is a totally different but complementary view on XRP: the long term channel since its inception.
One word: waaw!
XRP came back down to almost ‘test’ the support line of this long term channel. As long as XRP is below 0.85 we want to buy the selloff, once above 0.85 we want to buy the breakout. Totally different strategy, and it’s important to know when to apply which entry strategy.
The reason we are not in a hurry to enter XRP is the next chart: the daily XRP chart. We see that the area between the support of this 4 year rounded pattern and the critical 0.85 level is narrowing. We want to see a powerful reversal setup (similar to the pattern we got in September/October last year, look left on below chart).
Note that we MUST see an improvement in our crypto leading indicator(s) before entering altcoins like XRP. As explained in our last crypto alert everything points to August 6th as a decision day! Both the altcoin of your choice combined with crypto’s leading indicator(s) must give confidence before entering a position, is what we recommend as an entry strategy.
The charts and commentary in this post are copied from our last crypto alert to premium crypto members. They received this, but more importantly several crypto leading indicator charts in a detailed update sent yesterday. This, and much more, is available for premium crypto members. You too can sign up here (instant access to our most recent alerts) >>
