At that point it is becoming more an more clear to me that the correction that happened yesterday is all that we got from it as the price very quickly jumped back up. Furthermore, this correction has already presented a 28-31% drop (depending on the exchange). Another reason for a leg up from here, besides the obvious one that we are in alt season, is that xrp has managed to stay at these prices for 4 days now, giving the fact that we had such a massive explosion in price, still with a lawsuit on our bags.
Form the technical standpoint.. when we again break above a 0.5 fib level ($1.73) we may go as high as touching a famous 0.786 level ($2.65) and then consolidate a bit between 0.618 and 0.786 level. Breaking above .786 means extremely bullish sign taking us to a new ATH very likely.
We must not forget that yellow and orange areas could still be reached if we get some kind of monstrous correction in the near future, but a would not bet on it as whole market tends to be very bullish in april.
I am not a financial advisor so non of this should be taken as a financial advise. Wish you all a successful investment.
XRPUSD
Form the technical standpoint.. when we again break above a 0.5 fib level ($1.73) we may go as high as touching a famous 0.786 level ($2.65) and then consolidate a bit between 0.618 and 0.786 level. Breaking above .786 means extremely bullish sign taking us to a new ATH very likely.
We must not forget that yellow and orange areas could still be reached if we get some kind of monstrous correction in the near future, but a would not bet on it as whole market tends to be very bullish in april.
I am not a financial advisor so non of this should be taken as a financial advise. Wish you all a successful investment.
XRPUSD
With the fall through yellow area we have almost reached to the orange. BTC chart will tell us if we are going a bit deeper, but i am 85% sure at that point that the shakeout is over and up we go. Then again a am not a financial advisor. Stay safe, be well and don't lose sight of a bigger picture.