I want to make myself clear.
I remain optimistic that $XRP can hold above the $1 level and establish a solid foundation before trending higher.
At the same time, I am equally concerned that, following such a heavy rejection from key weekly and moving averages over the past 10 weeks, this unwind could get worse before it gets better.
There is a real possibility that we may even sweep the current low before any meaningful recovery takes hold.
In the past, I have apologized for missing lower target ranges ($0.90/$0.70) earlier in the year and for being caught offside during the move from $0.98 to $1.70. I do not have a crystal ball, and I would honestly hate to have to walk back that apology.
However, I cannot ignore the signs in front of us. I share this as a gentle note of care and awareness, not with the intention of scaring anyone.
I do not know what will happen next, but I will do my best to navigate these waters as best as I can. We keep going.
For context, $XRP broke below its 200-day moving average following the midterm election and has since retraced 19%. We are underperforming, though this is not unusual at this stage of the cycle. A gentle reminder: if BTC loses its 200-day, $0.90-$0.70 remains a possibility.
π LOCK IN! While the recent bloodbath is causing panic, we're busy looking ahead by decoding $XRP cycles; breaking down 13 years of structure to aid in identifying major opportunities, like today's. You have to stay one step ahead at all times. Enjoy Nerds π€
It's 2AM here in the UK, but i've managed to get some $XRP content out before I hit the sack. Today's coverage takes a step back from the chaos and focuses on decoding XRP cycles. Until tomorrow, goodnight! π«‘ https://t.co/FT82nc3OIa
$XRP's ATH was over 15.8 months ago, or roughly 480 days. Since then, we have been mapping this HUGE handle formation and are mid-retest on the Gaussian Channel ($1.01), with $0.89/73 support below if lost. This region triggered the 2020, 2022 and 2024 launchpads in the past ππΌ
A flash-wick below $XLM's 6-year support trendline would wipe out the remaining weak hands and flush leftover liquidity before a full blown melt-up. Just a thought π
πΊπΈ HUGE: Below is the SEC official documentation granting "accelerated approval" to NASDAQ's proposed rule change, paving the way for options trading on crypto-backed investment trusts holding digital commodities, including: $XRP, $XLM, $HBAR, and others ππ»
πΊπΈ BREAKING: SEC clears Nasdaq options exchange to list options on qualifying digital commodity ETPs.
Digital commodities identified by the SEC and SEC staff: BTC, ETH, SOL, CC, HBAR, LINK, AVAX, ADA, XLM, DOT, LTC, DOGE, BCH, APT, XTZ, SHIB, ALGO, LBC, XRP
@rebel_thecat Once the low is confirmed and a foundation is built, $5-$8 is a conservative target range for me in the coming years. Higher macro extensions exist between $13/$27 but would require significant overall widespread adoption and catalysts.
What if $XRP is forming a multi-year cup & handle under 8 years of resistance with significant macro future upside potential waiting ahead ππΌ
With the cup complete and the handle likely in formation since the ATH, price may seek a Gaussian Channel retest to mark a periodic bottom.
Strong confluence given 3 similar retests have unfolded over the past 6 years inside the cup, and also marked the 2017 cycle low.
The 0.5 FIB waits below equally in the same territory as support ($0.89).
Could be something. Could be nothing. Regardless of where this macro low is marked, future FIB extensions await above targetting $8 plus.
$XRP has always rewarded the brave.
@MikybullCrypto Great minds think alike! I am equally open to a nasty wick grab below the trendline to flush remaining liquidity https://t.co/pOoK7756dR
It's 2AM here in the UK, but i've managed to get some $XRP content out before I hit the sack. Today's coverage takes a step back from the chaos and focuses on decoding XRP cycles. Until tomorrow, goodnight! π«‘ https://t.co/FT82nc3OIa