XRP DAILY ANALYSIS - RIPPLE XRP PRICE PREDICTION - RIPPLE XRP 2024 - RIPPLE ANALYSIS

Summary

The script provides technical analysis of the XRP chart, noting a potential bullish move with five waves up forming after a correction. It outlines key support and resistance levels, a possible third wave in progress that could break local highs if valid, and theories around XRP mirroring Bitcoin's market structure. The overall tone conveys optimism regarding long trade setups for XRP, though cautions that Bitcoin market moves may guide altcoin trends. It aims to spark interest in further analysis and opportunities within the discord community.

Takeaways

• 😊 The speaker thanks the audience for their support of his channel
• 📈 He points out a buyback target level of resistance on the XRP chart
• 👍 XRP price has conformed to an upward trendline with 5 waves, which is bullish
• 🔎 He is watching for another potential long trade opportunity on XRP
• 💡 He invites viewers to join the Discord group for more altcoin signals and community engagement
• 🤝 The Discord community shares lots of trading ideas and bounces ideas off each other
• 🚀 The speaker sees clues that this may be the start of a powerful 3rd wave for XRP
• 🔥 He compares the current XRP move to Bitcoin's rally in September 2021
• ⏰ The local low at $0.4847 invalidates the bullish impulse wave count
• ♾ He theorizes XRP is in a larger corrective pattern before a blow-off top like Bitcoin

Q & A

What key levels and targets has the speaker laid out for the community?

The speaker has laid out a buyback target at the current level of resistance. He is looking for potential long opportunities on XRP.

What is the speaker's outlook on the current XRP price action?

The speaker believes the current XRP price action looks bullish, with 5 waves up confirming a bullish trend. He believes this could indicate the start of a major third wave up.

What is the invalidation level for the bullish view?

The invalidation level is at $0.04847. If the price drops below this, it would invalidate the bullish view.

How does the speaker recommend managing risk?

The speaker recommends using a stop loss below the recent swing low at $0.065. This allows for an 18% correction while still maintaining the bullish view.

What is the speaker's outlook on Bitcoin and the crypto market?

The speaker remains bullish on Bitcoin and the crypto market overall. He believes Bitcoin put in an intermediate top in April 2021 and we are now in a corrective phase within a larger bull market.

What trading opportunities exist right now according to the speaker?

The speaker sees potential long opportunities on XRP at current levels on a retracement. There are also opportunities to trade other coins discussed in the Discord group.

What type of wave count does the speaker have labeled on XRP?

The speaker has the price action labeled as a leading diagonal for wave 1, an ABC correction for wave 2, and a potential powerful third wave underway now.

What is the speaker's preferred Elliott Wave pattern?

The speaker prefers to trade impulsive Elliott Wave patterns, either as a 3rd wave extension or as part of a larger 5 wave sequence.

What is the role of the Discord community according to the speaker?

The Discord community allows members to share trading ideas and opportunities. It provides valuable perspectives beyond just the speaker's analysis.

What is the speaker's ultimate target for the potential XRP third wave?

The ultimate target is a breakout above XRP's all-time high as part of a larger bull market blow-off top, similar to Bitcoin's projected move.

Outlines

00:00

😊 Explaining a bullish setup for XRP and targets for buying

The paragraph analyzes an XRP chart, identifying a bullish 5-wave pattern, support and resistance levels, and buy targets shared with the Coinskid community. It suggests XRP could mirror Bitcoin's rally, predicts breakouts if Bitcoin sees major moves, and outlines ideal entries for long positions.

Keywords

💡bullish

Bullish refers to a positive and optimistic outlook on the price movement of an asset, like XRP in this case. The narrator says the 5 wave move up to resistance is 'technically bullish', indicating he expects further upside. He also talks about potential 'bullish impulses' and a 'bull market invalidation', showing his bullish bias.

💡resistance

Resistance is a price level at which an asset faces selling pressure, preventing it from moving higher. The narrator points to the current XRP price reacting at a 'key level resistance', which aligns with the downtrend line. He expects a pullback here before eventual breakout.

💡invalidation

Invalidation refers to a price level that if broken, would invalidate a technical analysis-based market view or theory. The narrator says if XRP breaks below $0.04847, it would invalidate the bullish view of an impulsive 3rd wave underway.

💡impulsive wave

An impulsive wave is a price movement in the dominant trend direction within Elliott Wave analysis. The narrator speculates this XRP rise could be the start of a powerful 3rd impulsive wave higher, indicating a resumption of the broader bull trend.

💡correction

A correction refers to a counter-trend price movement before the primary trend resumes. The narrator expects a pullback/consolidation after the current XRP rise before an eventual breakout.

💡leading diagonal

A leading diagonal is a specific type of Elliott Wave pattern that trends sharply but ends with a final fifth wave failure. The narrator proposes the previous XRP rise was this kind of incomplete pattern, making this a 2nd attempt.

💡blow-off top

A blow-off top refers to a final vertical spike up in price as bullish euphoria peaks. The narrator doesn't expect an XRP blow-off top outperformance until Bitcoin sees one at its all-time high area.

💡cycle

Market cycles refer to rotating phases of bullish uptrend then bearish downtrend. The narrator speculates XRP remains in the same bull cycle from years before that has only recently resumed, with more upside ahead.

💡bull market

A bull market refers to a prolonged period where prices keep trending higher. The narrator maintains a bullish bias, saying recent price action may signal the bull market is underway again in XRP.

💡all-time high

The all-time high is the highest price ever reached by an asset. The narrator says XRP is positioned to reach its all-time highs around $3.30 if Bitcoin breaks its own all-time high, sparking euphoria.

Highlights

Looking at potential long opportunity in XRP, have targets laid out in Discord

XRP conforming to trendline, came up in 5 waves which is technically bullish

Looking for longs, shorts, opportunities to make money in crypto space

Clue is in the 5 waves up, similar to move from January 2021 pivot low

If in a core 3rd wave, should break resistance and all time highs

Invalidation of bull move is 0.04847, invalidation moves up as price moves up

Possible we are in a leading diagonal, followed by correction, now in massive 3rd wave

XRP may be in larger cycle, looking to hit ATH in blow off top when BTC does

Remain bullish on BTC and ETH, April 2021 likely end of impulse, now corrective

At pivotal resistance point for XRP and BTC

Looking for consolidation and ABC retracement after 5 waves up

Great long potential here if find support after consolidation

Updates on Discord for trading opportunities across cryptos

Community bounces ideas off each other, fantastic for finding trades

Stay healthy, stay strong, stay tuned!

Transcripts

he everyone I hope you're well this is

coins kid just 9 to xlp once again thank

you support okay big the coins key crew

so I do have some targets that I've laid

down for the coins key crew in the

Discord right there of a buyback on this

level of resistance right now so at the

moment we are conforming to this trend

line which is beautiful isn't it look at

that so we've got the thir resistance

right now uh so we're doing well we've

come up into it in five ways which is

technically bullish 1 2 3 4 five little

microwave move there and this is

something I was looking at way back way

back then uh the bullish St ver said to

you lovely little 20% trade into this

Lego resistance and then at that point

we create some kind of Correction

basically so you know what I'm looking

at on the micro that's really nice it's

been a beautiful little trade for

ourselves I'm looking for another little

trade another little long opportunity on

xrp I have posted that set up right

there in the altcoin section you know

the Discord but if you are looking for

more content you know not just on xrp

bitcoin ethereum all that do get into

the Discord because it's not just myself

that's posted in there we've got many

technical analysis we've got an amazing

Community we've got an influx of new

members posting the content as well for

example I was in there this morning and

one guy gave me a lovely little trade on

a coin I've trade that has been

beautiful you know I've made some money

before I've made the videos been a nice

little trade that has and you know thank

you for that and these are the things if

you're jumping in you can see it because

got so many people bouncing off each

other it's fantastic you know so we look

for Longs we look for shorts we just

look for opportunities to make some

money in this space so what I'm looking

at there's a potential scenario right

now that this is a bullish move here for

xrp and the the clue is in the little

five ways which should've got just uh

just like this little five ws we've got

off the January low just there as well

so we've got the pivot low in January of

last year and we got another pivot low

of January this year so if xlp is about

to rinse repeat this and come up the

stairs then in theory we should be

looking for some kind of one two 3 four

five so and so forth a big move here for

xrp just like it did there okay so wish

sh at most look but right now we could

say this could be a core free basically

a very very powerful wave that if this

has been impulsive wave one some kind of

1 two 3 four flat uh you know leading

diagonal then this is been a flat

correction of an ABC this could be a one

two and right now your third wave so if

it is a third wave it should be a road

powerful wave which breaks all the

resistance of the you know the local

highs and the alltime high basically

it's called a core wave now I did relay

this opportunity for the you know the

coins key crew on the Bitcoin chart that

in September last year was a sweet spot

because if it was a core wave and it was

a third wave which it's kind of RAR in

its head that it is at the moment but I

don't want to get too ahead of myself

then it was the absolute beautiful sweet

spot so I think we may have nailed this

but obviously going forward this is

where if you are in any positions I a

stop loss right there right now but

obviously it's a bigger correction from

this point but I think this is the

invalidation 18% from this point I think

the invalidation of a big impulsive move

from this point right now you know a

potential core free third wave which is

what bitcoin's in right now as a

potential scenario will be this low here

so this is the invalidation right now

like I said to you your bull market

invalidation moves up the stairs as you

move up the stairs so right now that's

your bull market invalidation 04847 so

like I said at this point it moves up

moves up moves up moves up and over in

time you you know as we go up the stairs

like I said to the balls go up the

stairs in time our our support moves up

the stairs to invalidate our theory of

bullish impulses so right now possibly

the bigger macro move is the fact that

this has been a leading diagonal one a

flat correction two and right now this

is a massive third wave which is coming

you know and basically from this low

we've had an impulsive wave ABC zigzag

corrective wave we absolutely nailed

like a boss one or two and this is your

core wave now this would marry up with

my theory that we have simply been in a

biger cycle here for Bitcoin and xrp

basically and this is why xrp never made

the all-time high at that point because

it just is in a bigger cycle and it's

looking to just make its alltime high in

the blowoff top phase of the cycle when

Bitcoin does it so please check out the

Bitcoin video so like I said to you I

don't think you know we'll see big major

moves and breakouts on xrp unless we do

see that in the Bitcoin chart so this is

why remain bullish on bitcoin ethereum

because I think we've got clues that

this was the top of an impulsive move in

April of 2021 and it's not necessarily

the bare Market that you know a lot of

people was looking at it's merely a

corrective phase of a ball Market

impulsive corrective impulsive so I wish

everyone with most look but right now we

are at a very very strong key Lev

resistance and a pivotal point in the

xrp chart and equally the Bitcoin chart

so what I'm looking for is some kind of

consolidation a retracement an ABC after

five waves up here we find support you

know we've got some beautiful long

potentials here right now in front of us

xrp to make a lot of money against a h

mentality hope you enjoyed that update

stay healthy stay strong stay tuned take

care everyone back to another update xlp

bye-bye