XRP completed the correction wave in the WXY formation (double ABC). It also just broke down through the Ascending Triangle. While normally an Ascending Triangle is bullish, there is way to much selling pressure right now and a rare break down was expected. Its worth noting that the correction wave didnt even make it to the 0.236 fib.
The (S2+S3)/2 line is at 0.33 with S3 at 0.30. There isnt really any support levels below here as the data from a year ago isnt all that relevant IMHO and the break below 0.38 was our last line of defense on that front.
I expect this is part of a larger artificial push down preceding a significant launch. I am looking for exit points to re-enter lower. We could be looking at .20 or lower and it would be an amazing area to load up.
The (S2+S3)/2 line is at 0.33 with S3 at 0.30. There isnt really any support levels below here as the data from a year ago isnt all that relevant IMHO and the break below 0.38 was our last line of defense on that front.
I expect this is part of a larger artificial push down preceding a significant launch. I am looking for exit points to re-enter lower. We could be looking at .20 or lower and it would be an amazing area to load up.
