As you can see on the larger time frame, BITFINEX:XRPUSD is mimicking the trend of BTC/USD. However, a more significant lower high and lower low can be spotted in BITFINEX:XRPUSD then in BTC.
The green box could signify an accumulation zone provided that BITFINEX:XRPUSD doesn't break down the $0.55 region. Notice that the $0.55 also constitute my 88% fib level. This shows that the $0.55 level is a significant strong support.
A false break down of the $0.55 could eventually occur but the bulls must manage to bring the price back to $0.55. Otherwise, $0.33 will be met.
I suggest downward cost averaging would be the best idea for this coin. Expect to hold until end of 2018.
Thanks. CK
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Rectify on the previous comment. $0.55 -----> $0.48