XRP: The face of the Beast - September 2018
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Please, have a look at the beginning of my analysis if it is not yet done. Otherwise, it would be difficult to understand this one (link is here: tradingview.com/chart/XRPUSD/8N5wUglp-XRP-the-face-of-the-beast/).
Yesterday, I told you that XRP on the hourly chart will give another try to breach 2.111 but it was unlikely it could succeed. Indeed, XRP only had EMA55 on the hourly chart to be supportive against 2.111 on the daily/weekly chart.
I also mentioned that during the first tentative to break 2.111, 8 billion of XRP were transferred. Even though the transfers were processed from wallets to wallets, they could simply represent Money Management and / or equilibrium of budgets against hundreds of other wallets that are used for other purposes… and never connected to the wallets we have seen. My stomach says that it is highly suspicious and it could be a hidden wall to stop XRP to break this 2.111 parabolic resistance.
Today, I can see that XRP has formed a nice parabolic movement around another 2.111 circle and where the price still moves around.
I have identified a Cosinus in a trigonometrical circle and drawn a diameter, from the right radius there is a 34° angle (Golden Number) that perfectly matches the current support where XRP is moving now:
• Around 2.111 circle (in purple)
• On a support called y=x which is the bisector (in orange)
• Against the long term parabolic resistance 2.111 (in white)
• Against EMA34,55,89 and 134
I think the Bisector y=x will be a strong support for the next hours / days as it has developed a significant energy through its rotation.
I believe another tentative will be tried out to breach 2.111.
Again, the likelihood to break 2.111 is low but let see how the Big Banks are playing this out
Ma maîtrise est sans faille et mon skill sans égal.
Magic`ArKaiN
Yesterday, I told you that XRP on the hourly chart will give another try to breach 2.111 but it was unlikely it could succeed. Indeed, XRP only had EMA55 on the hourly chart to be supportive against 2.111 on the daily/weekly chart.
I also mentioned that during the first tentative to break 2.111, 8 billion of XRP were transferred. Even though the transfers were processed from wallets to wallets, they could simply represent Money Management and / or equilibrium of budgets against hundreds of other wallets that are used for other purposes… and never connected to the wallets we have seen. My stomach says that it is highly suspicious and it could be a hidden wall to stop XRP to break this 2.111 parabolic resistance.
Today, I can see that XRP has formed a nice parabolic movement around another 2.111 circle and where the price still moves around.
I have identified a Cosinus in a trigonometrical circle and drawn a diameter, from the right radius there is a 34° angle (Golden Number) that perfectly matches the current support where XRP is moving now:
• Around 2.111 circle (in purple)
• On a support called y=x which is the bisector (in orange)
• Against the long term parabolic resistance 2.111 (in white)
• Against EMA34,55,89 and 134
I think the Bisector y=x will be a strong support for the next hours / days as it has developed a significant energy through its rotation.
I believe another tentative will be tried out to breach 2.111.
Again, the likelihood to break 2.111 is low but let see how the Big Banks are playing this out
Ma maîtrise est sans faille et mon skill sans égal.
Magic`ArKaiN
Trade attivo
As I planned, XRP is pushing really hard to break 2.111, will it succeed this time? If yes, it could mean a strong bullish signal as this resistance has not been broken since January 2018
Based on the last movements, I would say that the bulls have resisted quite well against the bears, which are getting more and more exhausted.
Please, have a look at the blue bars, they can be described as inflexion supports to move XRP toward higher highs in this sequence.
I would say that we have more and more chance to break 2.111 than before... but nothing is confirmed yet...
Trade attivo
From dust you came, and to dust you shall return. This phrase came from the bible and has been a heritage throughout our Christian culture. Cycle is happening everywhere, with jobs, friends, and hobbies. Everything has a beginning and an end. We have no choice, it is a law that has been established by God – we are submitted to changes and cycles – what we can do is to welcome these changes on a positive way. We are moving and saying goodbye to old friends and ladies… We need to move on and bring what we have learned the best from each other.
Most important in our case; anticipating these changes can be extremely valuable in trading…
XRP has finally broken 2.111 and it has been confirmed on the daily chart.
2.111 was previously used as a resistance to stop XRP going up since January 2018. It is now used as a support. Enemies that are defeated become our friends... If you cannot beat it join it.
“Why XRP is not going up? I still do not get why you are talking about cycles…”
The beast is getting prepared for the next battle…
I have drawn a tangent (in blue) on a circle 2.111 (purple). This is where XRP has stopped 2 times the last hours. Believe it or not but this where the tangent is crossing 3.14 (the beast)
You can clearly see the details here and identify a tangent on the Circle (purple) 2.111 where XRP stopped to times and currently reaching 3.14
In Jan 2018, XRP actually failed to go below 2.111 and tried to break EMA55 (in yellow), this rejection was fatal and put XRP below 2.111 for nearly 8 months
Today, XRP is probably trying to break below 2.111 has it inversely tried in Jan 2018 , XRP is facing EMA55 on the 4 hours chart. I assume that the price will bounce from there but based on the cycles, we might find a support on the bisector before bouncing to higher highs.
Ma maîtrise est sans faille et mon skill sans égal.
Magic’ArKaiN
Trade attivo
As planned XRP rebounced on the Bisector (turquoise) but had lots of difficulties to cross over 2.111 (in white) – there was a tentative but it was unsuccessful as XRP has not been able to complete a full candle above 2.111. As a consequence, XRP is now in the process to test the long term support 5.236 (green) which is at $0.255. I believe that XRP should bounce from this level and test 2.111 again.
I would like to drag a special attention here; this support is extremely important and implies that XRP may go to the scenario 1 if 2.111 is not crossed over and if 5.236 is broken. Remember that I planned this scenario on the 26th of August 2018.
We will know soon the result of this assumption, XRP has no choice than going up or going down as it is moving very closely between strong supports and resistances.
Of course, we will not go straight to $0.10 but we could potentially reach $0.20 in the meantime.
Based on the current price movement and what I can see on the 10th of September 2018, we are very likely to follow the red arrows that I have drawn in the below picture - At the bottom, I have indicated in red the dates when XRP price should reach the resistances and supports.
Until big volume bullish is coming, I am sorry to provide you such negative analysis but I just analyse what I see… I will update you as soon as XRP shows new price movements.
Leave a comment and share your opinion!
Ma maîtrise est sans faille et mon skill sans égal.
Magic’ArKaiN
Trade attivo
As I planned yesterday, XRP reached 5.236 (green), which is at $0.255 - We could potentially re-test 2.111 (white), which is at nearly $0.288.Let's see...
Trade attivo
So far so good, let's see how XRP will behave again 2.111...
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