While the market slides, I am at least happy to see that the XRP action is YET AGAIN obeying the magical fib circle boundaries, making predictable moves that help us to know what direction it is taking through the bear market/bull market transition. In my previous post, I warned that XRP would drop and head towards a possible base of 0.28 if it violated the lower 4.618 fib circle boundary that I have indicated here, which was constructed using the previous high to low fibs based on the May 15th to June 19th low and high.
But now we are dealing with the bigger 1.618 fib circle which I constructed from August 12th 2018 ATL to the first ATH in the recovery on May 15th (this is the blue line). Now that the escape hatch has fallen out of the previous short-term fib circle boundary, we are floating out there in "no-man's land", but you'll notice that the trajectory looks like it will gravitate towards this bigger blue 1.618 boundary. Once it gets there, IF it is at a price of 0.28, we know this boundary is in play. We will either bounce off of this, or plunge further.
I think the chances are 50/50. I hate to say it, but it still looks like Big Brother BTC has the ability to drag the price down as it experiences a healthy ongoing correction. I don't see a divergence happening here, barring some huge world-changing breaking news on XRP. But no matter what happens, I'm shocked and excited to see that the XRP price candle action is STILL printing moves around these fib circle boundaries with almost precise manner. We are going to keep rolling with this larger boundary until we move out of the range, and then we'll see if we can produce YET ANOTHER amazing set of fib circle analysis that keeps us in-the-know on the XRP price action this summer!
But now we are dealing with the bigger 1.618 fib circle which I constructed from August 12th 2018 ATL to the first ATH in the recovery on May 15th (this is the blue line). Now that the escape hatch has fallen out of the previous short-term fib circle boundary, we are floating out there in "no-man's land", but you'll notice that the trajectory looks like it will gravitate towards this bigger blue 1.618 boundary. Once it gets there, IF it is at a price of 0.28, we know this boundary is in play. We will either bounce off of this, or plunge further.
I think the chances are 50/50. I hate to say it, but it still looks like Big Brother BTC has the ability to drag the price down as it experiences a healthy ongoing correction. I don't see a divergence happening here, barring some huge world-changing breaking news on XRP. But no matter what happens, I'm shocked and excited to see that the XRP price candle action is STILL printing moves around these fib circle boundaries with almost precise manner. We are going to keep rolling with this larger boundary until we move out of the range, and then we'll see if we can produce YET ANOTHER amazing set of fib circle analysis that keeps us in-the-know on the XRP price action this summer!