Just a slight tweaking of the 0.0 fib (disallowing some lower but brief price action) lands the .236 fib right on $1.00.
$1.00 is a very strong psychological level, and has served as S/R area previously.
XRPs price action is now forming an equal triangle, the break out could be either to the upside or to the downside, but current market exuberance would suggest a break to the upside. The measured move of the pattern targets the $1 level !! 3 long bearish and disappointing years may be coming to an end!
As it's been quite popular (ranked *3 for a while!) and has lots of news and exposure, this coin will attract a lot of attention from newbies, as well as established traders, once it makes a break, so the FOMO factor is enormous and once it breaks above the $1, it will very likely carry on and retest it's ATH before the end of this cycle.
BUT! Famous as being a bear's coin, a good strategy has been to sell every pump, so you can be sure there will be a lot of hungry bears waiting up there at the $1 level so be ready to take the money and run! I would be looking for new orders at the .716, .618 and the 0.5 fibs to reenter.
I'm wondering if the timing with SEC investigation could be a catalyst to set things off, either way, looks like this will get a long awaited pump
Do you have a chart or is your bias purely fundamental, or a guess?
Barrabert
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If this thing will start to pump finally, it can be very big.
Slippery09
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@Barrabert, I've seen this pattern repeating on many alt coins recently, a broad and rounding base, takes off and back to ATH.
Barrabert
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@Slippery09, I agree with you fully and usually when xrp is pumping, can be extremely strong. Especially now after the SEC fud game. I expect a 23 usd xrp within 3 months. I can be wrong for sure, not an advice.
Slippery09
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@Barrabert, wow! 23 usd would put me in a very comfortable place!!
@Slippery09, I base it on fib levels. I did some more research today, I have a feeling we will face a fib cap in this 3rd wave and we can get "only" to the ATH. The big jump most probably will be in the last cycle after BTC retrace. We will see.
gjsmr2
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sell at 1. we will sell at 10
Slippery09
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@gjsmr2, Sell at 1, buy at .68, or .5 to increase your holding, or just hold, but trust me, there will be a big sell at 1 ;-)