XRP heading for 70% correction to 60 cents?

٣ ديسمبر ٢٠٢٤

17 days ago the “Incoming 40% collapse for XRP” idea was published at 1.15. Price action has rallied another 130% since then. Emotions are aplenty throughout the comment area with demands for a refund, and bulls now calling for an additional 10x by this time next year.

Whether this idea is right or wrong is not the point, it is about facts.

The facts:

1) Price action is now at legacy resistance from 2017 (see chart below). In other words, if you’ve held this token since that time this is now your first chance to secure a 0% gain.

2) Price action is outside the Bollinger Band just as below. Why is this time difference?

2a) RSI support breakout.
2b) This is also true for the XRP.btc pair, which was not true before.

3) Lastly the Bollinger Band is now curling up and inwards (like in the Dogecoin idea), momentum and volume is now leaving this market.

4) Price action is up 10x from the lows. A correction for 70% instead of 40% is forecast. Price action must backtest the resistance breakout as support to confirm uptrend.

Is it possible price action continues up? Sure.
Is it probable? No.

Ww



Legacy resistance on Monthly

٣ ديسمبر ٢٠٢٤

تم فتح الصفقة

Best short entry so far... up'd it to €50 this time!

٣ ديسمبر ٢٠٢٤

ملاحظة

Emotions can play no part in making money. One of the most difficult aspects of making money is keeping it. Everyone, myself included, will struggle on this point without a plan. I tell you that to tell you this, greed is a powerful emotion that will deny all from knowing when they've won, if they let it.

A recent comment sums up that mindset for me perfectly:

------------------------------------------------
“SwallowPremium”
A 70% correction? 😱 That's a significant drop.
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Certainly is..

And yet so few if any acknowledge the near 500% rise in the last 30 days. Most now call for higher highs.

Yet a 70% correction today...
.. would still be a 70% increase from 30 days before!

Greed knows no bounds.

٤ ديسمبر ٢٠٢٤

ملاحظة

-10%.... -60% to go.

٥ ديسمبر ٢٠٢٤

ملاحظة

-15%.... 55% to go.

٥ ديسمبر ٢٠٢٤

ملاحظة

Am told this time is different. SWIFT will be replaced by XRP at any moment. Ripple centralised controlled stable coin (hang on, wan't the point of crypto to get away from that? Never mind) will replace tether... the fact remains, price action is miles outside the Bollinger Band.

On the 4 day chart below price action is 4 sigmas away from the mean. April 2021 was the previous time and December 2017 before that.

Still think this time is different?

٧ ديسمبر ٢٠٢٤

ملاحظة

Lets top up that short position. Liquidation set to 3.63, they'll never. catch me up here.

٩ ديسمبر ٢٠٢٤

ملاحظة

Trade now active since 2.63,
Bulls are capitulating.

٩ ديسمبر ٢٠٢٤

ملاحظة

Bulls have capitulated. "Sell now before it goes to zero! "

١٦ ديسمبر ٢٠٢٤

ملاحظة

Price action corrected 80% when a weekly Hanging Man candle printed in the month of May 2019.

December 2024 "This time is different"

XRP bulls, pump my short position!!

weekly

١٨ ديسمبر ٢٠٢٤

ملاحظة

** Trade VERY active!!! **

١٩ ديسمبر ٢٠٢٤

ملاحظة

Time to increase those short positions if you've got em.

٢٦ ديسمبر ٢٠٢٤

ملاحظة

A sell signal now prints on the 4 day chart. Look left, previously 70% corrections followed after the signals in 2021.

Do you think this time will be different?

4 day

٧ يناير

ملاحظة

Institutions exiting the market, retail exit liquidity put to good use.

١٢ يناير

ملاحظة

5 day through weekly charts on XRP

5 day


Weekly



I know I know, this time is different...

١٢ يناير

ملاحظة

XRP bulls obliged with some fresh exit liquidity this weekend at 2.60.
Happy Shorting folks!

٢٧ يناير

ملاحظة

Suddenly the US controlled international payment settlement token XRP is losing ground...

Perhaps a US president rampaging allies with punitive tariffs and threats on capturing their territory through force is not exactly appealing investors.

١ فبراير

ملاحظة

Is the 25% tariff to apply to XRP transactions in and out of the US?! Every day brings another discount.

٣ فبراير

ملاحظة

Price action wicks all the way down to 1.80.

Remember, where wicks go price action often follows. Don't try and catch falling knives, wait be patient.

٥ فبراير

ملاحظة

First they ignore you,
then they laugh at you,
then they fight you,
then you win.

أول أمس

ملاحظة

Ready to an express ride to 75 cents?

قبل ٧ ساعات

ملاحظة

XRP is doing the exact same thing as Bitcoin did at 96k before its collapse to
83K
now... it is following the GRM, this is a sign of incredible weakness. No one has interest to buy.

The next drop will be almost 40% correction, exit now and save some profit.