Ripple XRP Price TOP almost in...

xrp has had a good run to the upside in the last few days and in today's video I am going to be taking a look at the technical analysis on the 1 hour and one day time frame sharing my thoughts and opinions as to where I think that price action is heading next as I get into today's video If you do find it useful informative smash that like button if you're new subscribe and let's take a look at what's going on with xrp so here we have xrp paired up with usdt we're on the 1H hour binance chart here and we did hit Target yesterday okay so our target range was coming in at 59 uh 68 to 61.7 okay and again we were talking a lot around Elway theory in the last few videos and this is actually a really clean example of Elliot W Theory okay great impulsive run on this 1 hour time frame if you roll this up into something like an 8 hour time frame you can kind of see this really good run to the upside obviously the rejection right now um which is obviously part of the process but really good nice clean run to the upside here okay now we were talking about how this was unlike to happen as in it didn't feel right obviously Elliot wave theory told us that this was going to happen um from the kind of premise of how Traders are behaving but it didn't feel right on this move to the upside specifically with the fundamental side of what caused this initial pump which was the grayscale news so I was issuing a few warnings saying that there's a high probability that this doesn't quite play out as expected but these are the scenarios and well I was wrong it did actually play out according to Elliot way Theory so you know Testament to Elliot way theory in this this one um but here we can see a bit of a move to the upside with our swing low coming in here at 55.4 uh the initial swing High being there on the 56.6 a the pull to the downside didn't set a lower high we did break up higher here so that was going to be our our tail a bit of accumulation bit of support being found here and we could see that this is where we then started to get that nice clean break we would have been looking for a long position up in and around this area um on Friday and we would have been looking to Target out uh a little bit higher here as well as this breakout situation also presented itself with a potential for a long opportunity okay so as we can see here if we didn't get into a long at this level we could have got into a long at this level okay and I'm going to show you what they would have looked like so to start with if we got into the long down here we would have been looking for this initial break to the upside we didn't see any confirmation we did move down no confirmation until we got to about here but we had this retest so there's a couple of different options you could have had you could have entered long here tight stop loss down lower than the previous swing low targeted out 1.5 on the risk reward ratio which would have been basically capturing this entire move to the upside that was option one option two would have been that we saw this breakout here and we put the stop loss lower than this previous swing low and we would have targeted out 1.5 on the risk W ratio and again that would have been another tape profit kind of situation if you had missed those there was an opportunity just up here as well we obiously broke this level we found resistance we got closed candle above that area of the previous resistance and then we got this additional one right in here as well straight after so that there would have been the position to go long we would have looked for the tight stop loss and 1.5 on the risk reward ratio and this one would not have actually hit Profit just yet um and would still be potentially running uh if you didn't have a trading stop you'd still be in it we would be negative at the moment so it'll be a very interesting one to keep a close eye on so why do I think that this move to the upside hasn't yet finished well if Elliot wave theory is telling us anything here it's that we are actually in the wave four and we have the fifth wave still to go okay so if we take a look at this we have the one the two the three the four and then we're looking for that five okay that final fifth wave movement assuming that we've kind of locally bottomed which is possible that we haven't we might still still see a little bit of more volatility here with the Wave 4 um so I'm going to keep it conservative by snapping it to the existing Wick but just be prepared that maybe that's going to change a little bit and this is a case of the lower that wave four goes the higher that wave five will go okay so in a roundabout way you want to come down and retest the support levels of the 50 EMA 50 SMA which is very very possible and in doing so then you're going to be pushing up into those higher ranges but as it sits today at the point of recording this video we could be looking for 60.25 to 60. 78 but if we do come down lower then we of course we're going to push for higher targets and therefore it presents itself with the opportunity for some long positions right now as well okay so again we could go long here stop loss lower than the previous swing uh 50 EMA 50 SMA and of course targeting out 1.5 on the risk World ratio into that target range right inside there okay so you can see here that there's a few possible scenarios for finishing off this structure but it is a finishing structure and I want to stress that uh in today's video specifically I guess as we kind of roll up into the large time frames but as I've been talking about these kind of tra positions uh you guys know by now that if I am going to be trading um leverage based positions shorts and Longs uh I am of course going to be using bitg or blin which are my go-to platforms when it comes to leverage based trades if you haven't already checked them out check them out guys the Linked In the description down below if you use those links to sign up you're eligible to some fantastic sign up bonuses depending on where you are around the world and if you go for the blof fin exchange it's a non kyc exchange so you don't have to worry about verification and all of those kind of processes uh whereas bit get you do um but it depends whether or not you are care about you know kyc or not if you don't I suggest signing up to both because it's better to have access to as many different exchanges as you possibly can um specifically when it comes to kind of bull market trading spot trades and buying and selling uh actual physical assets as well as the contracted leverage based trades it's always great to have access to as many different platforms as you possibly can okay so check them out if you haven't done so already like I said they're my go-to platforms when it comes to trading um because they're so easy to use and you know in my opinion really reasonable on the fee side as well so for everything that we can kind of see going on here with um with xrp we are tracking a very nice run uh this run in itself is also just a part of a final fifth wave movement we had the wave four this is the final fifth wave move now what's really interesting about this is it is an impulsive breakout but it does look strange it looks very irregular but again this is all due to the fact that what happened in the Wave 3 was of course fundamental driven it was on the back of the grayscale trust news and wasn't really kind of just driven from normal trading Behavior Uh which is what was giving me a little bit of the concerns with the depth of the wave four which is typically deeper than you would normally expected to go and because wave four went down this deep wave five had to go as high as it did okay so you can kind of see everything kind of playing out quite nicely the other thing to kind of consider here is that all of this is a part of a much bigger corrective pattern uh that's going on for xrp at the moment but we hope to maybe see some breakout situations at some point in the future if we roll This up into a daily time frame you can see that we've been talking about this bullish breakout towards 75 to 85 cents uh for what feels like a very long time at this stage now as it sits today we had a bit of a push up uh in yesterday's candle right we can see it here okay it was a g move we had good close position once again um but again that today's candle isn't really giving us that confidence in the market just yet our stochastic RSI is also not in the best position on the daily time frame although I do suspect there's still a bit more of a push to the upside on the smaller time frames we don't see the kind of strength in the market that we need to on The Daily time frame so we are a little bit cautious here obviously 75 to 85 cents we'd love it to happen you know today tomorrow um but the closer and closer that we get to the 18th of September where we have the Federal Reserve interest rate decision that is going to affect the market and I think it's going to be affected negatively so I'm not suspecting that we're going to see positivity after the 18th of September that only gives us a few more days and I don't think we're going to Rally up to 75 to 85 cents in the next couple of days therefore my kind of expectations are that we do move down and we are going to break down from the structure that we find ourselves in so we finish off that fifth wave movement on the smaller time frames maybe today tomorrow and then we start calling off and we probably will be looking at retesting the 50 Cent level and even dropping down lower than that briefly before we get into that next big run for 75 to 85 as I've said before and I'll say it again this pattern will remain valid unless of course we drop down lower than 38.2 3 cents and unless we drop down lower than 43.1 n our Target Remains the Same okay so we always Target out 75 to 85 cents unless we drop down lower than 4319 and if by dropping down lower than 43.1 n all we're going to do is lower the time Target from 75 cents to let's say 7 cents to for example right uh losing the 38.2 3 breaks the structure all together and prevents us from moving up to 75 to 85 cents under this particular pattern that I've drawn out here on the chart so understanding where the key levels are for failure are going to be really important specifically over the next week in my opinion of course we do have the potential of this trend line looking like it gets broken but trend lines are so subjective I don't rely too heavily on them if we were to take into consideration maybe close positions uh of our kind of candles as they sit today you might argue that actually we haven't done anything noteworthy whatsoever and all we're doing is hitting resistance on that level where you can see previous resistances coming in right on that trend line okay so trend lines are really subjective to how they've been drawn um I kind of spoken about this a number of different times we don't T generally like to use trend lines too much but they do show us uh a you know a good visual of what's going on in the market in terms of higher highs or higher lows and and things like that in this particular pattern here is a continuation pattern uh normally it will continue the pattern that led into it um it does depend on where that continue P continuation pattern started for example we've drawn this from down here on the 5th of July but if we continuation pattern was actually starting up on the 31st of July well that would actually mean that we are likely to see that dump in the market taking us deck down towards the the 38.2 3 cents so hopefully I'm right about how I've drawn this at the moment um if I'm wrong it could obviously mean that we're going to lose some of these key levels of support for xrp's Price action in the coming weeks but hopefully that is not the case so for xrp we are looking okay if I zoom out of this and we just take into consideration the bigger broader Market um because I know a lot of people aren't that interested in the smaller movements we just here for the macro stuff there is that one bearish case still outstanding uh which is the idea that moving back down towards the 28 to 33 Cent level as you can see here even hitting 75 to 85 cents doesn't break that the only way to break that model is to go up higher than 93.8 okay which is obviously is what we saw with the previous three-wave structure that we were plotting um back in 2022 and early 2023 okay so we hit that one on the nose we're looking for this bearish move here and you know we're hopeful because we have met minimum expectations that we're done and we don't have to continue moving down um but if we see complete failure here within that pattern that I've drawn then ultimately yeah we are going to be looking at targeting down quite aggressively here specifically if we lose that kind of 38 scent level we could be looking at a pretty interesting drop for the price action of xrp okay there's still a lot going on from the SEC Ripple side as well so lots of uncertainty in the air around a pills and I know a lot people say that they're not going to appeal um I think it's a case of I don't see why they wouldn't um and I think that's kind of what we've seen as well with the escrow for the penalty sums U being agreed by Ripple and with SEC from a fundamental point of view in the latest news we we know that the only reason to have an escrow is that preparing for appeals so I know there's the idea that there's no appeals happening but I suspect actually there an appeal will happen um and it seems a bit of a a no-brainer otherwise don't see why it's dragged on the way that it has at this stage um but again like I say many times before and I'll say it again I would love to be wrong about all of that uh I just suspect the worst uh case scenarios we are looking for $14 to be a key breakout area on xrp if we can hit that that's going to be great and of course we still do think there's the high probability of $5 to12 uh in that next or well $5 to $1 in that next bullish Market of 2025 um so everything's kind of still on track when it comes to xrp's price action but let me know what your thoughts are on all of this in the comments down below where do you use it for xrp's price on the kind of bigger macro picture drop them in the comments down below or join us in our free Discord server we would love to hear from you if you found today's video useful informative smash the like button if you're new subscribe and if you haven't done so already check this video out right here it's not one you're going to want to miss