teknoaxe
Long

XRP Projections and Reasoning

BITFINEX:XRPUSD   XRP / U.S. Dollar
The following is a basic reasoning for my projection and where I chose my point.

So I moved my low point from the last surge to X, which is a little earlier than what I had it at. When you do this, you can see the Fib retrace from the previous level hits squarely at .618. Interestingly enough, this is also where the resistance of the ascending triangle was, and now it provides support.

Judging by a Fib extension forecast, we see the rumored 0.610 XRP value in sight.

Because we hit the 0.618 line, be wary of the possibility that this rise cannot continue. Right now, volume numbers are really low, so that also might be some things to be considered too.

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