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

Summary

This video provides an in-depth analysis of the XRP price chart, offering trading insights and potential future price movements. The host highlights a successful 5% trade on a micro Head and Shoulders pattern and presents evidence suggesting the market has confirmed a bottom, recommending to buy on dips. Examining the weekly chart, the host identifies key resistance levels that, if broken, could signal a major upward move. The analysis also draws parallels with past price fractals, predicting a breakout aligning with previous patterns. The host encourages joining the Discord community for more trading content and emphasizes the importance of monitoring Bitcoin's movements as a leading indicator for XRP's price action.

Takeaways

• 🎯 The speaker identified a 5% profitable micro Head and Shoulders pattern trade setup for XRP, with buy orders filled on the green line.
• 🚀 The speaker believes XRP has confirmed a market bottom, suggesting any dips should be viewed as buying opportunities.
• 📈 On the weekly chart, XRP has broken through a significant resistance level in the RSI, a leading bullish indicator.
• 🎯 The speaker uses bullish and bearish divergences in the RSI as key indicators for identifying potential trade setups.
• 📊 The speaker highlighted an ascending triangle pattern on XRP's chart, which could signal a breakout if resistance levels are breached.
• 🔑 Key resistance levels for XRP mentioned are $0.6614 (weekly close) and $0.7524 (major pivot point), with a break above indicating a significant upward move.
• 🌊 XRP's price action is expected to follow Bitcoin's lead, with sideways Bitcoin consolidation allowing XRP to catch up.
• 📣 The speaker promotes their Discord community as a valuable resource for trading insights, analysis, and discussions on various cryptocurrencies.
• 💰 For those interested in trading or buying XRP, the speaker recommends using the Bingx exchange (link in the video description).
• 🧭 The speaker emphasizes the importance of maintaining support levels, particularly the ribbon indicator they've created, to avoid potential sell signals or pattern identification for trading.

Q & A

What trading setup did the speaker notice for XRP?

The speaker noticed a little micro Head and Shoulders pattern on XRP, which presented a 5% trading opportunity that played out successfully.

What bullish signal did XRP show on the weekly timeframe?

On the weekly timeframe, XRP broke a significant level of resistance in the RSI (Relative Strength Index), which is considered a leading bullish indicator.

How did the speaker use divergences to identify trading opportunities in the past?

The speaker used bearish divergences on the weekly RSI to identify a potential correction and a buying opportunity around the 20-week EMA for XRP.

What resistance levels does the speaker consider important for XRP's potential upside move?

The speaker considers the resistance levels of 0.6614 and 0.7524 as important levels to break for confirming a major upside move in XRP.

How does the speaker relate XRP's potential movement to Bitcoin's price action?

The speaker suggests that Bitcoin's sideways consolidation allows altcoins like XRP to catch up and potentially move upwards. XRP's movement is expected to follow Bitcoin's lead.

What technical indicator does the speaker use to identify potential buy signals for XRP?

The speaker uses a custom-made 'ribbon' indicator, and when XRP's price is above this ribbon, it is considered a buy signal.

What does the speaker suggest regarding dips in XRP's price?

The speaker suggests that dips in XRP's price should be viewed as buying opportunities rather than reasons to panic or sell.

What exchange does the speaker recommend for trading or buying XRP?

The speaker recommends using the exchange Bingx, with links provided in the video description.

What potential pattern does the speaker mention if XRP gets rejected from the resistance levels?

If XRP gets rejected from the resistance levels mentioned, the speaker suggests that it could potentially form an ascending triangle pattern, which is a bullish continuation pattern.

How does the speaker relate XRP's current price action to a previous fractal?

The speaker mentions that XRP's current price action is closely mirroring a previous fractal or price pattern from the past, suggesting that the breakout point is right on cue.

Outlines

00:00

🚀 XRP Trade Setup and Bullish Signals

The paragraph discusses a profitable 5% micro Head and Shoulders trade setup on XRP that played out successfully. It highlights the bullish signals for XRP, such as breaking a significant resistance level on the weekly RSI, suggesting a potential bottom confirmation. The narrator encourages buying on dips and emphasizes the importance of tracking price action and emerging patterns on shorter timeframes like the 15-minute chart. Additionally, the paragraph mentions posting trade setups in a community Discord channel and the availability of valuable crypto trading content.

05:02

🔍 Analyzing XRP's Weekly Chart and Potential Breakout

This paragraph focuses on analyzing XRP's weekly chart and identifying potential breakout signals. The narrator points out the massive green candle across various crypto projects, indicating a significant upward move. Specifically, they highlight the breakout of a significant resistance level in XRP's weekly RSI, a leading bullish divergence indicator. The paragraph also discusses previous trade setups based on RSI divergences, emphasizing their importance as predictive indicators, especially on higher timeframes like weekly and monthly. The narrator outlines key resistance levels at 0.6614 and 0.7524, suggesting that a weekly close above these levels could signal a major upward move for XRP. Additionally, the formation of an ascending triangle pattern is mentioned as a potential bullish continuation pattern.

Keywords

💡Trade setup

A trade setup refers to the identification of potential trading opportunities based on technical analysis indicators and chart patterns. In the context of the video, the speaker mentions spotting a 'lovely little trade setup for XRP' in the form of a micro Head and Shoulders pattern, which led to a 5% profitable trade. Trade setups involve analyzing price action and looking for specific chart formations or signals that may indicate a favorable entry or exit point for a trade.

💡Head and Shoulders pattern

The Head and Shoulders pattern is a technical analysis charting pattern used in stock trading and cryptocurrency trading to identify potential reversals in price trends. It is a bearish reversal pattern when formed at the top of an uptrend and a bullish reversal pattern when formed at the bottom of a downtrend. In the video, the speaker mentions identifying a 'micro Head and Shoulders pattern' for XRP, which led to a 5% profitable trade. The formation of this pattern was likely a signal for the speaker to enter a long position on XRP.

💡Support and resistance

Support and resistance levels are crucial concepts in technical analysis. Support is a price level where buyers tend to step in and prevent the price from falling further, while resistance is a price level where sellers tend to take profits, preventing the price from rising further. The speaker frequently refers to these levels, such as the 'green line' and the 0.4853 level, which they identify as macro support for XRP. Understanding and trading based on support and resistance levels is a key strategy discussed in the video.

💡Divergence

In technical analysis, divergence refers to a situation where the price of an asset moves in the opposite direction of a technical indicator, such as the Relative Strength Index (RSI). The speaker mentions using bullish and bearish divergences on various timeframes, such as the weekly and daily charts, to identify potential reversals or continuation signals for XRP. Divergences can be leading indicators of trend changes and are used by the speaker as part of their analysis and trading strategy.

💡Fractal

A fractal is a self-similar pattern that repeats itself across different time scales or magnifications. In the context of technical analysis, fractals refer to price patterns that tend to repeat themselves over time. The speaker mentions that XRP is 'copying in time this fractal,' referring to a previous price pattern that is being replicated on the current chart. Identifying and trading based on fractal patterns is a strategy used by the speaker to anticipate potential price movements for XRP.

💡Moving averages

Moving averages are technical analysis indicators that smooth out price data by calculating the average price over a specific time period. The speaker mentions the 20-week exponential moving average (20 WE EMA) as a key level for XRP, stating that holding or reclaiming this level could signal a bullish continuation. Moving averages are commonly used by traders to identify trends and potential support or resistance levels, as well as to generate buy or sell signals based on price crossovers.

💡Bitcoin correlation

The speaker highlights the correlation between Bitcoin's price movements and the performance of other cryptocurrencies, such as XRP. They state that 'Bitcoin is your leading indicator for XRP' and that XRP's price is unlikely to move up significantly unless Bitcoin goes sideways or consolidates. This correlation is a crucial factor in the speaker's analysis and trading strategy, as they monitor Bitcoin's behavior to anticipate potential moves in XRP and other altcoins.

💡Ascending triangle

An ascending triangle is a bullish chart pattern formed by a horizontal resistance level and an upward-sloping support line. The speaker mentions the possibility of XRP forming a 'lovely little ascending triangle' if it gets rejected at certain resistance levels and pulls back to the 20 MA. This pattern is typically a continuation pattern that can signal a potential breakout and continuation of the uptrend if the resistance level is breached. Identifying and trading based on chart patterns like ascending triangles is part of the speaker's technical analysis strategy.

💡Buy signal

A buy signal is an indication or trigger generated by technical analysis indicators or chart patterns that suggests a favorable time to enter a long position or purchase an asset. In the video, the speaker mentions that XRP is currently giving a 'Buy Signal' based on their custom 'ribbon' indicator, which involves the price being above a specific moving average ribbon. Buy signals are crucial for the speaker's trading strategy, as they help identify potential entry points for long positions.

💡Dips for buying

The phrase 'dips are for buying, not for crying' is used by the speaker to express their bullish sentiment towards XRP. It suggests that any short-term price dips or pullbacks should be viewed as buying opportunities rather than reasons for concern or selling. The speaker believes that dips in XRP's price are temporary and that the overall trend is likely to continue upwards, making dips attractive entry points for long positions. This mindset reflects the speaker's confidence in their analysis and the potential for XRP to appreciate further in value.

Highlights

Identified a lovely little, trade setup for XRP with a micro Head and Shoulders pattern, around a 5% trade that played out perfectly.

Believes they have confirmed the bottom for XRP, and that any dips are for buying, not for crying.

Mentions posting trade setups in the Discord channel, not just for XRP but also for other coins like OMG, Harmony One, and KYC.

On the weekly chart for XRP, broke a significant level of resistance in the RSI, which is a leading indicator.

Explains how bullish and bearish divergences on the weekly timeframe are powerful indicators for identifying potential moves.

Mentions using divergences to identify a potential short and buy-back zone for XRP in the past.

Current macro support for XRP is at 0.04853, and if that level is lost, the next target would be around 0.038.

Looking for XRP to hold the 20-week EMA as support and eventually take out resistance levels at 0.07524 and 0.06614, which could signal a major move up.

Suggests that an ascending triangle pattern could be forming for XRP, which could lead to a breakout if resistance levels are taken out.

Mentions that Bitcoin's price action is a leading indicator for XRP, and that XRP's potential move up depends on Bitcoin consolidating or going sideways.

Observes that XRP is currently copying a fractal pattern from the past, and the current pivot point aligns with the expected breakout timing based on this fractal.

XRP is currently in a buy signal according to the author's custom indicator called the "Coins Kid Ribbon".

Recommends buying dips for XRP, as long as the January low of 0.04860 holds, which could lead to an explosive move if taken out.

Suggests using the cryptocurrency exchange Binance to trade or buy XRP, with links provided in the video description.

Emphasizes the importance of maintaining the support provided by the "Coins Kid Ribbon" indicator, and to look for patterns, support/resistance levels, or sell signals if XRP falls below that support.

Transcripts

hey everyone I

hope so I did notice a lovely little

trade setup for xrp little micro Head

and Shoulders pattern it was around

about a 5% trade it played out like an

absolute boss got some bids filled on

the green line and right now we're

taking off again so I'm going to show

you something that xrp did last week

which is incredibly bullish uh going

forward so I do think we've got a

confirmation of the bottom and any dips

are for buying not for cry let's dive

into the xrp chart right now but if you

are looking for little trade setups long

short whatever you know I do Post as I

see them you know because like I've

always said to you the price action

change things emerge and things like

that you know on the 15-minute time

frame got the perfect little head and

shoulders pattern Lov little short back

down to support and boom uh you know 5%

into a massive 8% long at the moment so

that's been a really fruitful trade for

us so far and this is what we do you

know think we're just up only we tried

to trade xrp and other coins in the

channel right there so if you're looking

for more content definitely get involved

in Discord let's dive into the xrp chart

and I'll show you what I'm looking at

right now okay looking next upop here on

a weekly time frame we're not getting a

massive go candle that you know we're

seeing across the charts on a lot of the

these projects Bitcoin ethereum you know

loads of projects are putting in massive

moves aren't they I've been posting

these trade setups all weekend as well

OMG there was one Harmony one right

there beautiful little mo coins KY crew

right there equally in the Discord you

know not just myself posting content but

in the old coin chat wow that content is

absolutely on fire really really good

content lots of trade short long

whatever macro St points chitchat on

crypto it's amazing I'm super proud of

that Community right there so within the

xrp chart right now on the weekly we

have done something on the weekly time

frame just there we have broken this

significant level of resistance in the

RSI so that's a leading indicator for

example if we take a look okay we got

this pivot point there and then the

pivot point there so I was using the RSI

you know a few weeks ago I think it was

towards end of January wasn't it we got

that important pivot point we was

looking at a Confluence through analysis

to a big move up to the upside for xop

because of the bullish Divergence really

really simple and this is what I relay

to you all the people say no way no way

but we got the big move fantastic so

this polish Divergence are leading

indicator of the OSI was for warning us

so divergences on the weekly are really

really powerful the more you see them

you know the monthly weekly the daily

the more power they have the micro not

so much but there are little int trades

you know you can back up your analysis

Confluence to going long and short if

you do spot divergences on any time

frame it is a little bit Confluence but

the more zoomed out you are the more

macro the more power it has for example

I remember when everyone was super

bullish last year on xrp and we wrote

this move up beautiful okay I was

looking at a big ABC here and I was

telling you at this Point put some bids

back on the 20 cuz I think we'll come

back in and everyone at this point is we

just coming up like this everyone's like

no it's going to do that you know you

cost me money BL blah BL oh no you've

cost me xrp it's taking off in space and

things like that I got all that kind of

you know sentiment and negativity and

comments on the charts but one of the

conferencing factors to that draw down

was really simple RSI beish St Ence so

with that what we've got is the high the

higher high and then the high and low

high that's under weekly that's a

bearish Divergence and at that point

when we start to roll I said to you 20

we EMA beautiful little sweet spot boom

break out and what we've got is a

beautiful little ascending triangle just

there look at that we traded like a boss

but anyway that's in the past basically

so that was a Lov little trade I use

Divergence to you know identify the

opportunity as a short and a buyback

zone so you know at this point we've got

the Divergence on the weekly a massive

macro correction look at this identified

you know support to go long basically so

with that we did put stops on this

orange line and right now that is your

macro support for me at 04853 if we lose

that before taking that 0752 and I go

through this with you in a moment then

you know I'm out basically I I'll jump

outx up here and I'll put bids down

there around about 038 but we may have

Clues you know we may have clues that

that might not happen because you know

what Bitcoin is doing but obviously

anything can happen you can never take

it off the table okay so it is all a

game of support and resistance so what I

want to see over the next few weeks is

you know just hold this 20we EMA as it

starts to come up any drawbacks you know

hold it as support starts to creep us up

and it'll creep us into this like a a

resistance so all I'm looking for to

confirm that this is a massive third

wave really simple a wick above that a

close above that whatever just take that

resistance point out that pivot point in

November of 2023 look at that 07524 we

Wick above it take it out whatever boom

you've got an explosive move for xrp

really a simple let's take a look at the

daily time frame but on the weekly we're

looking pretty tasty at the moment okay

so it's all about a resistance we take

out these resistance points above we've

got this red line 06614 a weekly close

above that's really important look at

that Pivot Point just there and equally

07524 I think that should go signal for

a major major move up here but you can

clearly see if we take a look at this

this is some kind of ascending triangle

just here isn't it so if we do get

rejected and stop to come back into the

20 MAA this could create a lovely little

ascending triangle third Point

resistance one two three breakout see

you later alligator so let's zoom in on

the daily time frame and see what we can

see for xlp okay so looking at xlp on a

daily time frame are we on the Cur with

a major breakout and the clue is in the

chart basically so again it's all about

the support and resistance I think if we

start to see a wick above that or a

close above that we are getting an

absolute Monumental move here in this

chart okay so it is all about Bitcoin

people you know that don't really pay

attention to the Bitcoin videos and and

look at the Bitcoin videos but Bitcoin

is your leading indicator for xrp for

example here I did relay to you a few

weeks ago that you know we won't see xrp

come up unless Bitcoin goes sideways

again look it went sideways and what did

xrp do caught it Up So bitcoin's Gone

sideway consolidating and right now it's

attacking the high so what we should

expect to see that if Bitcoin breaks out

go cway or whatever then this is where

you know consolidate and continue here

for xrp now there is a clue in this

particular chart and I did relay this to

you many moons ago that we are copying

you know in time this fractal aren't we

so we went from that pivot low just

there we dropped this on and we was

looking at this particular date let me

get that knob on for you we was looking

at this Pivot Point here copying it it's

unbelievable so come back down bolted

into this resistance Point here which

was this top in July look at that and we

come back down this correction and right

now at this point here this is when we

should have expected the big move up and

the breakout point for xrp it's pretty

much right on Q if you take a look at it

this Pivot Point just there is right

where just here we've got our ass back

above this ribbon and we're creating a

Buy Signal for the xrp community right

there so again you know this a coins kid

ribbon I've created this ribbon for you

this indicator so right now we are

sitting in a Buy Signal we're above the

ribbon right on Q so beautiful okay so

if we can toate in a range right now

have some kind of draw down pull back or

whatever like I said to you I think dips

are for buying not for crying and the

clues may be in the Bitcoin chart so

whenever we start to see Bitcoin go

sideways consolida in a range of

whatever this I think will allow you

know exop and some of these alt coins to

play catch up to the you know the Big

Move by Bitcoin right there so possibly

right on Q we've got a lovely little

breakout point and we were looking at

many many weeks ago there's a video you

know when will we break out when will

xrp move I did label that video that and

right now right on Q we're doing it so

you know at the moment we need to see

this low being held which is your pivot

point January low 04860 and I think if

we start to take that point out right

there we've got an explosive move in

this chart going forward for xrp so you

know dips of buying not for crying now

if you are looking to trade or buy xop

here I would recommend Bing X links in

the video description right there Tech

everyone back to another update on xrp

stay healthy stay stay tuned and most

importantly going forward from M stake

we have to maintain the ribbon the

support we start to fall below that then

you know squeaky bump time uh you know

we look for patterns or you know support

and resistance or sell signals at that

point okay hope you enjoyed that update

stay happy stay strong stay tuned take

care everyone back todate on xrp bye-bye