Remember, we were expecting Sub-wave 1 when XRP was at $1
Weekly Wave 2 is complete when XRP closes above $1.56.
Sub-Wave 3 Targets: $1.88, $4.10, $7.07.
Sub-Wave 2 Supports: $1.37, $1.29
Enjoy your weekend.
We have been discussing in detail the possibility of expanding C Wave under the subject conditions since the first week of September.
Wave 1 is complete, Wave 2 will be complete, and XRP will target Wave 3.
Please see the subject post from 12 September below:
Here is our sample post from
12 September:
(I shared the 4-hour chart above and will share 5-day time frame Chart below.)
XRP Multi-Time Frame Update - ROAD to $10.1101
Hello there, my friends!!!
I hope you are all well!
Today, we combine the 4-Hour with the 5-Day so we can see the short-term noise within the higher-time-frame road. On the 4-Hour, the double tap did its job faster than expected. Price bounced off $1.33, ran straight up and hit our resistance level exactly- the orange line at $1.4445- and came back down. Yes, we hit it to the cent. A first attempt at a descending line rarely goes through, and this one did not, but it told us two things.
You can see the moves were between our levels. Magic!
The support at $1.33 is real, and the roof at $1.4445 is real. Price now sits between the two. So the orange line at $1.4445 is today's level.
Let's check the detailed analysis with our Chart below:
4-Hour Time Frame:
1. Price is trading at $1.3663, under the 61.80% Fib level at $1.3798 and above our double tap support at $1.33. Yesterday's spike ran from the second tap into the orange line at $1.4445 and was rejected on the same candle on our orange resistance line, leaving a long upper wick. Since then the candles are small and sideways, holding the middle of the range between the support and the roof.
2. The structure: the count is unchanged, Wave 1 is the surge to $1.6992 and Wave 2 is the orange zigzag with the (A) and the (C) both on $1.33. The bounce from the second tap is the first attempt to leave the zigzag, and it stopped at the orange line, which is exactly where a first attempt stops. A close above $1.4445 breaks the line and confirms the (C) is done at $1.33. A close below $1.33 hands the leg to the pink part as the expanded (C) via $1.2939 to $1.2133, and above $1.5692 every C is cancelled.
3. The 4-Hour RSI reads 46.65, above the signal line at 39.41, so the cross we asked for yesterday has printed. From an oversold 37 on the second tap to 46.65 today, the momentum is back with the Bulls and the divergence has played out. A push above 50 with the price above $1.3798 adds weight to the reclaim. A fall back under 39.41 is the first warning that the bounce is fading.
4. The Ichimoku Cloud: price is under the thin green cloud between $1.37 and $1.41, and yesterday's spike went through the cloud and out the top before coming back. This indicator is bearish at the moment, and bullish again above $1.42.
Counter: The $1.3433 level is touched, so the seal is broken. The spike closed above $1.3798 for one candle and gave it back the next, so no count is running. The new count opens with a close above $1.3798 that holds.
5. Support Zones: the 61.80% Fib level at $1.3798 as the first reclaim, the double tap at $1.33 with our counter level at $1.3433, the 50% Fib level at $1.2939, the 38.20% Fib level at $1.2133 as the expanded (C) target, then the 23.60% Fib level at $1.1204.
Resistance Zones: the cloud top near $1.41, the orange line and the Key Level at $1.4445, the (B) top near $1.48, the start of the orange line at $1.5692, the $1.6992 high, then the PRIMARY at the 161.80% Fib level at $1.8815.
📷
6. Probabilities: 65/35 in favour of the Bulls while $1.33 holds and price is under $1.3798. A close back above $1.3798 restores 70/30. A close above $1.4445 that holds breaks the orange line and moves this to 75/25, and a close above $1.5692 cancels every C and takes this to 80/20. A close below $1.33 activates the expanded (C) and makes it 60/40 for that leg down to $1.2133. Only a close under $0.9852 breaks the count.
In one line: the double tap bounced, the bounce hit the roof to the cent, and the range between $1.33 and $1.4445 is now the whole game.
5-Day Time Frame:
7. Price is trading at $1.3658, sitting right on the yellow line that capped every candle from the (4) down to the surge, and a hair under the 61.80% Fib level at $1.3798. The line that was the resistance for months is now the support under the current candle.
8. The structure: The surge to $1.6992 is the blue (1) of the new count. The blue (2) is drawn as a shallow dip toward the blue line, and everything we discuss on the 4-Hour, the double tap, the roof, the expanded (C), all fits inside this one (2). From there the road is (3) at the 361.80% Fib level at $7.0786, (4) back to the 261.80% Fib level at $4.1043, and (5) at the 427.20% Fib level at $10.1101, with the 361.80% Fib level at $18.2275 above it. The gate to all of it stays the PRIMARY at the 161.80% Fib level at $1.8815.
9. The 5-Day RSI reads 54.97, above the signal line at 42.29, and it is Bullish!!!
10. The Ichimoku Cloud: price is under the pink cloud, and the cloud bottom is at $1.42 with the cloud thinning ahead. This indicator is bearish at the moment, and the 5-Day close above $1.42 is where it turns. Above the cloud top, the 161.80% Fib level at $1.8815 is the next stop.
Summary:
11. The market confirmed both of our lines in one day. The blue line at $1.33 held the second tap and the orange line at $1.4445 rejected the first attempt, so the 4-Hour is now boxed between a proven floor and a proven roof. The RSI has crossed its signal and is rising, which is what a bounce out of a Wave 2 low should show. Rejections at a descending line are normal, and what matters is whether the pullback holds above $1.3798 and $1.33 while the next attempt builds. As long as the higher low holds, the second attempt at the orange line is the trade the structure is pointing to.
The Bears have the rejection wick at $1.4445, a cloud overhead and price still under $1.3798. The Bulls have the double tap, the RSI cross, and a bounce that already proved it can reach the line. We all know a roof is only a roof until it is a floor. The second attempt decides which one $1.4445 becomes.
12. On the news front, the spot XRP ETFs were flat on the day with the cumulative total holding at about $1.70 billion. The Senate cloture vote on the Clarity Act stays on 15 September!
The floor held, the roof held, and the 5-Day already has the road drawn.
Between $1.33 and $1.4445 the Bulls have the RSI and the Bears have the wick. The second attempt at $1.4445 is the one to watch.
You can now generate passive income with Kraken (They enabled sub-affiliate programme for us) and I will share another post today on how you can do that!!!
Enjoy your weekend!!!
Dark
"The key to everything is patience."
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XRP dropped from $1.96 to $0.20, and I haven't experienced this much fanfare at that time.
XRPArmy experienced worse days together.
I was there.
Now, the newbies made me laugh.
We know what we have.
We know the targets.
As David says, haters gonna hate.
If you hate XRP, just stay away.
Simple.
Yes, the time is up. XRP broke out of the triangle. I know this 8-cent drop is frustrating for some of you, but this is normal.
We said the 3rd Wave would continue with candles closing above $1.5692.
Supports are: $1.445, $1.3798
Targets: No Change.
(not financial advice)
I warned that a breakout is incoming in 24h.
And it arrived.
People who say, "Yeah, it broke downside", are unable to read what was written.
Hilarious.
The Roadmap to $36.76 on the weekly time frame.
XRP completed Blue Wave 1 and is now in Wave 2.
The historical pattern shows a sideways phase here, and the Wave 3 window is already starting to line up with it.
The initial surge can be expected towards $4.10 and then $7.07.
And then Suddenly :)
Happy Sunday.
(Not Financial Advice)
Ladies and gentlemen, and dear children:
Flight X589 departed at $0.98 & reached Wave 1 at $1.70 in eight days.
We had a little turbulence through Wave 2 Kumo Clouds.
Passengers on the left can see the runway is behind us.
We are now climbing with Wave 3.
Please remain seated and enjoy your flight!
(not financial advice; my thoughts only)
Remember:
If the daily candle closes above $1.5692, XRP quickly expands the move toward $2.90 & $4.11
We will have an update soon.
(not financial advice)
Do not get distracted by the smaller time frames.
#XRP closed the monthly candle by breaking the year-long resistance trend.
Question: Was it a bearish or bullish breakout?
Dark: Rotate, positive rate, gear up.
(not financial advice; my thoughts only)
On 3-Aug-2024, we calculated the Wave 1 top at $3.3939.
It printed.
Wave 3 is next, targeting $36.
Volume is building the same way it did before Wave 1.
The bell for XRP rings at Nasdaq soon.
(not financial advice, just my thoughts)
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