XRPUSD
Yesterday we saw massive xrp price spike that went above and beyond of my expectations, but nevertheless, looks like that the alt season is happening for xrp. 2 days ago it was starting to become more and more obvious that btc price has started to decouple from alt coins, at least that was the case for xrp and doge coin.
So with this recent spike we even poked through purple resistence line, but were unable to stay above it so price quickly dropped 15% from there. As we are still holding those new prices, and considering how aggressive this recent spike was, it is safe to say in my opinion, that we will go much much higher VERY soon.
On the way to reaching 2017 ATH, xrp must obviously go through a number of resistances, some of which are very important to be broken through. One of such is a orange resistence line followed by blue one. If we broke above those two with the same, or even stronger aggression, we can expect next for the yellow and eventually major green ATH support to be broken and thus prices to rich new ATH which can be somewhere around $13 according to the fib. retracement.
I am not a financial advisor so don't buy anything that a say. Wish you all successful investment.
Comment:
Whet this recent "pump and dump" price almost touched orange resistance, but got rejected and back tested red support line and bounced from it. That is a very good sign as we managed to stay a level up. We could expect some consolidation between purple and red line, could be weeks, but price will recover eventually imo.
Whet this recent "pump and dump" price almost touched orange resistance, but got rejected and back tested red support line and bounced from it. That is a very good sign as we managed to stay a level up. We could expect some consolidation between purple and red line, could be weeks, but price will recover eventually imo.
As far as fib. retracement shows, we can expect bigger consolidation between 0.236 and 0.786 fib. levels (green ellipse)