Dear Crypto-Family!
D4rkEnergY is getting a ton of request from you guys to analyse different altcoins, so he has now decided to make a new series called: D4s Take on...! This is meant to give you a quick update on the market. D4rkEnergY will not dig super deep into the coin pair. We will do that on the other charts. D4 hopes you will like it anyway, it will definitely help you to gain a good understanding of the market.
So let's do it! We are here taking a look, at the 1D XRPBTC -1.42% Chart. As you can see, we had this crazy parabolic run in December and January. Since then we are in a middle of an ABC-correction.
I will say, that I am still pretty bearish on Ripple at the moment. Ripple has not doing well lately. Also compared to the USD, where we have been making out with the 78,6 % Fibonacchi level for quite a time. We managed to fuck up 2 times the last 2 weeks, where we had a good opportunity go into a reversal, but you guys were lucky, cause D4 warned you about bearish divergence.
Back to the XRPBTC -1.42% pair. We are now under the EMA200, and we don't see any bullish signs what so ever. Bitcoin -0.72% on the other hand has been doing pretty good, and are in the process of climb the ladder and finish the 5th Elliot Wave . Even worse for Ripple, BTC -0.72% is on the 3rd Elliot subwave, so expect therefore, that Ripple will go even lower.
The green box is your buy zone. The reason for that is based on previous price history, the MA200 and the 78,6 % Fibonacchi Retracement level! But keep monitoring your chart.
D4 loves you <3
