{"id":436466,"date":"2020-08-27T20:00:15","date_gmt":"2020-08-27T20:00:15","guid":{"rendered":"https:\/\/wncen.com\/?p=436466"},"modified":"2024-06-11T13:30:22","modified_gmt":"2024-06-11T13:30:22","slug":"xrp-flashes-buy-signal-breakout-imminent","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/xrp-flashes-buy-signal-breakout-imminent\/","title":{"rendered":"XRP Flashes Buy Signal At Bottom Of Potential Falling Wedge Pattern, Breakout Imminent"},"content":{"rendered":"

From the August monthly open to the high, XRP recorded nearly 25% gains on the month<\/a>. Unfortunately for Ripple investors hoping for a new bull run, the altcoin was only able to hold onto just 1% of that as of the time of this writing.<\/p>\n

But while things may look bleak for XRP’s recent rally, a buy signal has just flashed at the bottom of what appears to be a falling wedge chart pattern. This could signal a reversal is coming, and a breakout is imminent.<\/p>\n

The 2020 Altcoin Market Recovery Leaves Ripple Investors Wanting More<\/h2>\n

The crypto market cap in 2020 was up nearly 100% at the high, prompting search terms for “buy crypto” to reach the highest level since the 2017 bubble<\/a>. Ripple is also showing the most strength in its price action since then<\/a>.<\/p>\n

After three years of a downtrend, altcoins are finally recovering. Bitcoin is trading at well above 50% from its former all-time high. Meanwhile, other top-ranked crypto assets like Ethereum and XRP are still down significantly.<\/p>\n

Related Reading | Buy Crypto: Search Term Spikes To Highest Point Since Bitcoin Bubble<\/a><\/strong><\/em><\/p>\n

Ripple, for example, is trading below 30 cents. The altcoin’s former all-time high is well over $3. This means Ripple remains more than 90% down from its peak.<\/p>\n

But after two full years of being the worst crypto market performer, the altcoin has finally begun to recover. The recovery has thus far sustained longer than past attempts<\/a>, and although XRP has since lost much of the month’s gains, the rally may not be over yet.<\/p>\n

\"xrpusd<\/p>\n

XRPUSD Daily TD Sequential 9 Buy Setup | Source: TradingView<\/a><\/pre>\n
XRP Flashes TD 9 Buy Setup, Possibly Providing Momentum For Falling Wedge Breakout<\/h2>\n
Ripple’s 2020 recovery<\/a> alongside the rest of the altcoin market, majors and small-caps included, could keep on going despite a recent pullback<\/a>.<\/p>\n
Nearly all of August’s gains have been erased, but XRP still has a strong July behind it.<\/p>\n
Related Reading | Analyst: The \u201cReal\u201d Altcoin Party Begins In Early 2021<\/a><\/strong><\/em><\/p>\n
With only days remaining in August, if prices remain at current levels, the monthly candle will close as a doji<\/a> \u2013 signaling indecision. Doji can form at the top, but also can appear ahead of continuation.<\/p>\n
On daily timeframes, as pictured above, the TD Sequential<\/a> indicator has perfected a buy setup in XRPUSD.<\/p>\n
Coinciding with the potential reversal signal, the 9-count was reached just as XRP touched the bottom trendline of a falling wedge chart pattern.<\/p>\n
\"ripple<\/p>\n
XRPUSD Daily Falling Wedge Continuation Pattern | Source: TradingView<\/a><\/pre>\n
Falling wedges<\/a> can act as both reversal or continuation patterns, and are typically bullish patterns. Breakdowns from these patterns get especially violent, but the TD 9 buy setup implies upside ahead.<\/p>\n
XRP’s 2020 rally may not be over, but a larger pullback will take place eventually<\/a>. Whether that is now, or later on, is anyone’s guess. However, with crypto analysts expecting the real altcoin party to start in 2021<\/a>, even if XRP dips, it could be time to buy.<\/p>\n","protected":false},"excerpt":{"rendered":"
From the August monthly open to the high, XRP recorded nearly 25% gains on the month. Unfortunately for Ripple investors hoping for a new bull run, the altcoin was only able to hold onto just 1% of that as of the time of this writing. But while things may look bleak for XRP’s recent rally, a buy signal has just flashed at the bottom of what appears to be a falling wedge chart pattern. This could signal a reversal is coming, and a breakout is imminent. The 2020 Altcoin Market Recovery Leaves Ripple Investors Wanting More The crypto market cap in 2020 was up nearly 100% at the high, prompting search terms for “buy crypto” to reach the highest level since the 2017 bubble. Ripple is also showing the most strength in its price action since then. After three years of a downtrend, altcoins are finally recovering. Bitcoin is trading at well above 50% from its former all-time high. Meanwhile, other top-ranked crypto assets like Ethereum and XRP are still down significantly. Related Reading | Buy Crypto: Search Term Spikes To Highest Point Since Bitcoin Bubble Ripple, for example, is trading below 30 cents. The altcoin’s former all-time high is well over $3. This means Ripple remains more than 90% down from its peak. But after two full years of being the worst crypto market performer, the altcoin has finally begun to recover. The recovery has thus far sustained longer than past attempts, and although XRP has since lost much of the month’s gains, the rally may not be over yet. XRPUSD Daily TD Sequential 9 Buy Setup | Source: TradingView XRP Flashes TD 9 Buy Setup, Possibly Providing Momentum For Falling Wedge Breakout Ripple’s 2020 recovery alongside the rest of the altcoin market, majors and small-caps included, could keep on going despite a recent pullback. Nearly all of August’s gains have been erased, but XRP still has a strong July behind it. Related Reading | Analyst: The \u201cReal\u201d Altcoin Party Begins In Early 2021 With only days remaining in August, if prices remain at current levels, the monthly candle will close as a doji \u2013 signaling indecision. Doji can form at the top, but also can appear ahead of continuation. On daily timeframes, as pictured above, the TD Sequential indicator has perfected a buy setup in XRPUSD. Coinciding with the potential reversal signal, the 9-count was reached just as XRP touched the bottom trendline of a falling wedge chart pattern. XRPUSD Daily Falling Wedge Continuation Pattern | Source: TradingView Falling wedges can act as both reversal or continuation patterns, and are typically bullish patterns. Breakdowns from these patterns get especially violent, but the TD 9 buy setup implies upside ahead. XRP’s 2020 rally may not be over, but a larger pullback will take place eventually. Whether that is now, or later on, is anyone’s guess. However, with crypto analysts expecting the real altcoin party to start in 2021, even if XRP dips, it could be time to buy.<\/p>\n","protected":false},"author":517,"featured_media":436499,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894,4],"tags":[134,53606,6664,61403,3680,58580,4531,74937,10972,78763],"class_list":["post-436466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","category-analysis","tag-altcoin","tag-chart-pattern","tag-crypto","tag-falling-wedge","tag-ripple","tag-td-sequential","tag-xrp","tag-xrpbtc","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Flashes Buy Signal At Bottom Of Potential Falling Wedge Pattern<\/title>\n<meta name=\"description\" content=\"While things may look bleak for XRP's recent rally, a buy signal has 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Flashes Buy Signal At Bottom Of Potential Falling Wedge Pattern, Breakout Imminent","url":"http:\/\/wncen.com\/news\/xrp-flashes-buy-signal-breakout-imminent\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/xrp-flashes-buy-signal-breakout-imminent\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/xrp-signal-flashes-buy-xrpusd-ripple-Depositphotos_44928941_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/xrp-signal-flashes-buy-xrpusd-ripple-Depositphotos_44928941_xl-2015-scaled.jpg?fit=2560%2C1706"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","chart pattern","crypto","falling wedge","ripple","td sequential","xrp","xrpbtc","xrpusd","xrpusdt"],"dateCreated":"2020-08-27T20:00:15Z","datePublished":"2020-08-27T20:00:15Z","dateModified":"2024-06-11T13:30:22Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Flashes Buy Signal At Bottom Of Potential Falling Wedge Pattern, Breakout Imminent\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-flashes-buy-signal-breakout-imminent\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/xrp-flashes-buy-signal-breakout-imminent\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/xrp-signal-flashes-buy-xrpusd-ripple-Depositphotos_44928941_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/xrp-signal-flashes-buy-xrpusd-ripple-Depositphotos_44928941_xl-2015-scaled.jpg?fit=2560%2C1706\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"chart pattern\",\"crypto\",\"falling wedge\",\"ripple\",\"td sequential\",\"xrp\",\"xrpbtc\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2020-08-27T20:00:15Z\",\"datePublished\":\"2020-08-27T20:00:15Z\",\"dateModified\":\"2024-06-11T13:30:22Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/xrp-signal-flashes-buy-xrpusd-ripple-Depositphotos_44928941_xl-2015-scaled.jpg?fit=2560%2C1706","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/436466"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=436466"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/436466\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/436499"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=436466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=436466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=436466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}