carltonzone
Long

XRP Wick Bounces on Lower Fib - Recovery Started?

BITFINEX:XRPUSD   XRP / U.S. Dollar
It looks like the dump is over. Hopefully. The best piece of evidence that we have? Look at the wick on the lowest candle, and you will see that it touches down EXACTLY on my previously drawn 4.236 fib circle boundary that was constructed from the previous micro low and high points. Is this another coincidence? Did it happen by random chance? What are the odds of this playing out with such accuracy?

You'll also notice that the price action is now back to the 3.618 fib circle line, hugging it closely. Yet another "coincidence". Perhaps XRP will hug this line and then make a break to the up-side when it makes its way over to the 4.236 line again in a few days. But there is also the possibility of breaking to the DOWN side, where XRP could find a new base at 0.28. But my HOPE is that the low is already in.

In the short run, it looks like mayhem. In the long run, this is just a bleep on the radar. We really shouldn't even be analyzing things on this micro of a level with XRP, because it detracts from the possibility of monumental returns for holding long-term. But at least it keeps us entertained along the way, while we wait... and wait... and wait...

(cue the crickets)
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