We found a critical on the new Big Light Red just days ago when we experienced the massive red candle of doom. After the extended period of boring side-banding, I had to look for new clues as to what we might expect. That's when I constructed the Big Light Red Fib circle set based on the period of May 15 2019 to July 10th 2019. The dive bomb happened as soon as we hit the 2.618 line. That let me know right away, we must respect the magic of the Light Red Fib. But we are far and away from the next Light Red Fib 3.618. That's why I hunted for the "micro set", as indicated by the Light Blue fib circle lines.
In my last idea, we were paying close attention to the Light Blue 2.618 line. As we can see, XRP fought to maintain a connection to that line. But the current trajectory indicates that we have broken free from its gravitational pull. The downward momentum has us possibly looking to touch down on the Light Blue 3.618 below. We could float around a bit, and touch that line just below 0.25. I don't see any that jump out at me that would indicate a changing the direction of this trend. Therefore, the 4.216 could be the next possible stop. If the downward momentum is not broken, my eyes are back on the next Big Light Red 4.236.
I'm hearing some noteworthy prognosticators talking about 0.22, and this would definitely coincide with the landing point along this current trajectory, IF we blast through the remaining Light Blue fibs indicated on my chart. When we are on the underneath side of the circles on the right, in quadrant 2 in a clockwise direction, the tendency is to continue in a downward direction. This is just based on what I have seen throughout the history of the price movement. The past is not always indicative of future movements, but when it's all we have to hang our hats on, it's the safest way to assume the direction.
I have seen MANY people swearing on their lives that there is NO WAY we could break the previous support levels of 0.31, and 0.28. Those theories have of course gone down the drain. The fall could end up being quite a downer of a time for all of us XRP hodlers (yes, I am one of them). But this is not a time to panic sell, in my opinion, due to what I believe to be a TREMENDOUS up-side with this project. Even thought I snatched my biggest bag at 0.45, I have to remind myself that I'm not losing anything until I sell for a lower price. If you're not a swing trader, this should be of no concern. The best advice is to look at the BIG picture, and sit steady in the boat. For those of us looking for long-term gains, we can't be concerned with this part of the market cycle. There will be ups and downs. But in the long run, the nastier it gets, the better. You make the BIGGEST gains on the long-shots. Remember, we are in the EARLY stages of the cryptocurrency market. I truly believe that the best has yet to come, and this is the dawn of a coming new financial age.
The way I calm my nerves when we experience deep dives and dips like this is to look for clues ahead of time to soften the blow before they happen. That's why I don't want anyone thinking these predictions mean that I don't believe in the project. The greatest amount of my research time on ANY cryptocurrency project has been on XRP, and I'm convinced that we aren't just pipe dreaming. I do believe that the use case for this crypto could be even higher than that of Big Brother Bitcoin , so I have the most positive outlook at this point.
This might sound like financial advice, but hold your horses... it is NOT. Even though I pride myself in my due diligence and capabilities with my magical fib circle construction, and even though I'm an engineer by trade who understands mathematics on a high degree, I'm not the authority. I'm just a commentator and hodler who is along for the ride, and one who hopes to make the journey fun for everyone else who is of like mind.
New video coming soon on my CryptoPro YouTube channel, so stay tuned! And I appreciate you ALL for your comments and thumbs up!
The XRP CryptoPro