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Per my chart, you can see that XRP price has a decision to make (basically) here and now! Will the price continue to downslide? Or, are we seeing a turning point here?
I do not discount a "jab" lower today or tomorrow, and then price to get pushed back up into the apex of the triangle with a reversing of price that moves up and out of the triangle thereafter! Also, there is really no need for price to even jab lower from here! Most people are beginning to EXPECT lower prices, such as 20 cents, then maybe 16 cents, and when investors begin to EXPECT, that's when the price does the opposite! I'm not saying it CAN'T go lower to those price ranges...I'm saying be on guard here!!! Also, don't discount the "Double Bottom" here as well! It's a powerful reversal pattern!
Lastly, from a technical perspective using Elliot Wave, we can also make an argument for 5-waves down, or very close to that, which we know upon completion, price will move the other way! Based upon my math, I would prefer price to hit the 22 cent range, but it is NOT necessary at this point!
Could price plummet from here? Yes! But we will deal with that "if/when" that happens!
Regards! Have a great day!
Per my chart, you can see that XRP price has a decision to make (basically) here and now! Will the price continue to downslide? Or, are we seeing a turning point here?
I do not discount a "jab" lower today or tomorrow, and then price to get pushed back up into the apex of the triangle with a reversing of price that moves up and out of the triangle thereafter! Also, there is really no need for price to even jab lower from here! Most people are beginning to EXPECT lower prices, such as 20 cents, then maybe 16 cents, and when investors begin to EXPECT, that's when the price does the opposite! I'm not saying it CAN'T go lower to those price ranges...I'm saying be on guard here!!! Also, don't discount the "Double Bottom" here as well! It's a powerful reversal pattern!
Lastly, from a technical perspective using Elliot Wave, we can also make an argument for 5-waves down, or very close to that, which we know upon completion, price will move the other way! Based upon my math, I would prefer price to hit the 22 cent range, but it is NOT necessary at this point!
Could price plummet from here? Yes! But we will deal with that "if/when" that happens!
Regards! Have a great day!