Claveur

WILL RIPPLE FOLLOW BITCOIN ?

BITFINEX:XRPUSD   XRP / U.S. Dollar
Observing this chart. I have divided it into two part, two channels. Ripple fails to break the first channel, due to low bull volume . And apparently completed the 5th wave.
The second channel hasn't been broken yet. If ripple fails to break, there will be no choice than going down to retest 0.7 - 0.73 level. But we can see it based on the history that at that level there are not much activities. Which means if that cannot be held, the worse that could happen for ripple is to go down on the free fall zone toward 0.6 - 0.63 level.
Observing the RSI , we can that on the 34% has been broken. If we go below 30 % then, we might a change to break down the second channel and face the 0.7 level.
That could be considered as the worse scenario for ripple,....
But I believe there is a bull scenario for BITCOIN , as we can observe in the past, ripple follow BTC by a certain factor

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