As BTC has really started going for a correction, it pulled the rest of the market with it. Yesterday it looked like XRP will not deep as much as other alts due to the pump (25%) that happened for XRP just before whole market started to crash, so when marked did crash XRP stayed where it was before the pump. Today we can see that even XRP is going for that deep, so maybe ABC correction will play out at the end.
BTC is not over with correction, so we can kind of say the same for the xrp. It can be seen that we could be again back testing downward psychological trendline that has been formed in the last 3 months (blue line). With that back test we would also be touching 0.236 fib. retracement level ($0.31).
You also have to know that XRP may not even deep lower, because it is already very undervalued as it is, so taking that in a consideration, it is even harder to tell how deep the correction can take us with XRP. All we know is that it is a buying opportunity and that everything will be over soon. Before you know it we will be refueling our rocket at a national space station (2.618 fib. level) preparing to go to the moon, as right now we are still on a launching pad.
I am not a financial advisor so don't buy anything that a say. Wish you all successful investment.
XRPUSD
BTC is not over with correction, so we can kind of say the same for the xrp. It can be seen that we could be again back testing downward psychological trendline that has been formed in the last 3 months (blue line). With that back test we would also be touching 0.236 fib. retracement level ($0.31).
You also have to know that XRP may not even deep lower, because it is already very undervalued as it is, so taking that in a consideration, it is even harder to tell how deep the correction can take us with XRP. All we know is that it is a buying opportunity and that everything will be over soon. Before you know it we will be refueling our rocket at a national space station (2.618 fib. level) preparing to go to the moon, as right now we are still on a launching pad.
I am not a financial advisor so don't buy anything that a say. Wish you all successful investment.
XRPUSD
Comment:
Just wanted to pint out that this 2.618 fib. ext. level on a shorter time frame is also sitting on a 0.5 fib. retr. level on a larger timeframe. XRP likes to react to 0.5 level so price could consolidate from there before going another leg up. That is why i thing there is a National space station there.