I believe that XRP will continue consolidating before the next move higher. As you can see on the first move, it took about 3 days until the next move to the upside. I am expecting the same thing with this current move. I am thinking we move to $2.50 and trade sideways for the next leg higher.
The pattern I believe we are looking at is a symmetrical triangle with a move to the upside once we consolidate at current levels.
DISCLAIMER: I have been holding positions long from $1.11 and $1.94 with no plans to add more.
The pattern I believe we are looking at is a symmetrical triangle with a move to the upside once we consolidate at current levels.
DISCLAIMER: I have been holding positions long from $1.11 and $1.94 with no plans to add more.
Comment:
Update 1: Looks like we had the nice consolidation/sell off. I'm sure a bunch of panic sellers were included in there well. Think we will be floating around $2.50 (give or take a few) for the next 24-72 hours before the next leg higher.