Crypto Contest August 24: Ripple
Ripple (Ripple/Tether USD) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com)
In Elliott Wave terms, Ripple began a wave one advance on March 1. The wave one finished on April 2, and the wave two correction ended on April 8. The wave three advance finished on May 17, and the wave four correction ended on July 16. If this wave count is correct, Ripple should be heading next towards the May 17 peak in the wave five.
(Chart courtesy of Tradingview.com)
If you think this analysis is correct, upvote this post and upvote the comment "Ripple will takeout the May 17 peak".
If you think this analysis is wrong, upvote this post and upvote the comment "Ripple will drop below the July 16 low".
If you think Ripple is in a range, upvote this post and upvote the comment "Ripple will stay in a trading range between the July 16 low and the May 17 peak until September 24".
You can upvote the comment until 3 PM EST August 25 and you can upvote only one comment. 50% of SBD from this post will be distributed equally to the winners. The winners will be determined by the price action (which one happens first). Only participants with a Reputation of 35 or more will qualify in the contest.
Ripple will takeout the May 17 peak (25 voters as of 3 PM EST August 25: gregory-f, simonjay, allyouneedtoknow, architrader, catena, skririm, lucasgabd, flemingfarm, themovieplace, eirik, lasper, anetchen, kooshikoo, fitinfun, razorwave8, miniature-tiger, napkin, digitalking, allmonitors, mprgrmmr, carlosdaniel, mela, abh12345, arpepa, me-do).
There is a tread on tradingview. The guy so far is pretty much accurate with tactics. I guess , there will be sell the news action after 1:20 Ripple presentation, the rest will be defined by demand volume. Based on the fractal pattern the up limit for this round is in XRPBTC pair == 0.0038. https://www.tradingview.com/chart/XRPUSDT/z7iA3RYN-RippleUSD-8h-Undervalued-0-15-0-20-0-30-0-60-USD/
Thanks. I need to follow him.
SWELL? It is not even funny. I see the volume is down almost to nothing. XRPBTC .000045 might be the next resistance.
You mean support?
yeah, support, of course :)
Looks like a hockey stick :)
Kumo breakout weeeee! :)
Yes. Both four-hour and daily.
Yes, this is why i've gone for the most positive outcome this time. Mostly been selecting 'in range' this past month :)
Well crafted.
Ripple will stay in a trading range between the July 16 low and the May 17 peak until September 24 (19 voters as of 3 PM EST August 25: freiheit50, twinner, lydon.sipe, soundmoney, me-tarzan, ahinga, tzap90, starline, cassidyandfranks, jznsamuel, mirda, coolthings, yefet, gunsmithing, ragnaros, andy23, toofasteddie, kitcat, vermute).
You won.
Ripple will drop below the July 16 low (4 voters as of 3 PM EST August 25: libert, carver, yinyangboobookat, lig007).
This post has been ranked within the top 80 most undervalued posts in the first half of Aug 24. We estimate that this post is undervalued by $10.70 as compared to a scenario in which every voter had an equal say.
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I think it will go to a consolidation stage next week; let's see :):)
Please remember to upvote the right comment.