Hello fellas,i tried to make this chart as simple as possible,as you can see last 2 cycle of XRP(Starting of decline => starting of new rally ) took 196(28 Weeks) and 245(35 Weeks) days.At the moment we entered this range with 28th weekly candle,so i expect breakout within this time.
Positive Signals
+Stoch Rsi looks like found the bottom like other 2 cycle +Same as Rsi at the bottom of the range
Comment
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*Next Support:6100* We entered 29th week with continuous drop,we are heading to next support where it has chance to bounce upwards from there
*Ultimate Weekly 200 EMA Support:5100-5200* At worst case scenario xrp could collapse into 200 EMA.
Buy orders can be placed at 6100,if drop continues i would try to accumulate at the gray zone because xrp tends to bounce hard and fast,you may not catch the bottom,instead try to accumulate at box range.
High leveraged trades are not recommended because it is still dropping we dont have any confirmation yet.