Accumulation of XRPUP
After the last run from the FED announcement, XRPUP has been living through 3 phases.
Volume accumulation: The price goes all the way up to around $18 USDT. We can distinguish this stage due to the clusters in the volume formed in each of the Volume profile tails (VP from now on). This pattern is initially formed from sideways price action and has the Point of Control ( POC from now on) at the structure's bottom. The consequence of this action leaves a gap in the evolution of prices. Traditionally XRP and XRPUP tend to fill these gaps.
Aggressive initiation: Due to the spike in price, a trend has started in the XRPUP chart. Typically the volume cluster will the in the center of the VP distribution. Consequently, the prices will suffer a pullback to the POC (one or several times).
Strong rejection: As we have seen in the past for the XRP chart, after a big rally, the price chart tends to drop to a local bottom, and from there start ranging downwards until the initial gap is filled. In this case, we can recognize this pattern from the big cluster at the right of the VP distribution and a mini-cluster at the top. Typically the price will be rejected at the top.
I think the price will accumulate until it fills the gap, and from there will skyrocket until the 52 dollars (see the chart for details, but basically is based on Elliot wave theory)
Volume accumulation: The price goes all the way up to around $18 USDT. We can distinguish this stage due to the clusters in the volume formed in each of the Volume profile tails (VP from now on). This pattern is initially formed from sideways price action and has the Point of Control ( POC from now on) at the structure's bottom. The consequence of this action leaves a gap in the evolution of prices. Traditionally XRP and XRPUP tend to fill these gaps.
Aggressive initiation: Due to the spike in price, a trend has started in the XRPUP chart. Typically the volume cluster will the in the center of the VP distribution. Consequently, the prices will suffer a pullback to the POC (one or several times).
Strong rejection: As we have seen in the past for the XRP chart, after a big rally, the price chart tends to drop to a local bottom, and from there start ranging downwards until the initial gap is filled. In this case, we can recognize this pattern from the big cluster at the right of the VP distribution and a mini-cluster at the top. Typically the price will be rejected at the top.
I think the price will accumulate until it fills the gap, and from there will skyrocket until the 52 dollars (see the chart for details, but basically is based on Elliot wave theory)
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