GrantPeace

Ripple (XRP) Retracement

GrantPeace Premium Updated   
BITSTAMP:XRPUSD   XRP / U.S. Dollar
XRP has repeated this sequence 4 times, almost to perfection.

The first consolidation period lasted for approximately 9.5 days and resulted in a 533% rally from the previous ATH pivot .
A retracement of 78.6% ensued throughout the second sequence.

The second sequence lasted 5 times longer than the first consolidation period and resulted in another 533% increase from the previous ATH pivot .
A retracement of 78.6% ensued throughout the third sequence.

The third sequence lasted 5 times longer than the second sequence and resulted in (yet again) another 533% increase from the previous ATH pivot .
I expect another 78.6% retracement to occur. This will put the price of XRP below 1$.

Comment:
The spike higher than the 533% level was a result of buyers continuing to purchase out of emotion, creating overbought conditions.
Comment:
Accounting for the slightly higher pivot (not calculated using the all time high), the retracement target is approximately 87c. This is the revised price.
Comment:
Target Achieved.
Comment:
87c Spot on.
Comment:
Possibly another opportunity for an entry coming up! $
Comment:
Aright, time for another entry back up to 2$! Idea to come soon!

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