It is hard to consider whether you should be in the market to purchase XRP. When looking at the current chart, it is clear that price has already bounced off the three months low at $0.39. There was a sharp sell-off at $0.41 on the 4th June which will be the price that XRP will need to break through before you should be looking to buy once again.
The current price is below multiple levels of the monthly VWAP, and until we see the current weekly VWAP on Monday, I would avoid trading XRP. The price will need to move into the value area next week and must maintain a price within or above the value area (Green Area).
WARNING: With the price of XRP dropping by 20% in the last six days, I believe we will slowly move back into the value area. I have never been a big fan of XRP, but sadly, I am holding a lot from 2017 and will continue to monitor its trend. If price breaks below $0.38, then all hell will break loose as the next real buying area would be $0.30.
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why not 0.36c support just like the previous time? why it would go straight to .30c ?
Little_Big_Movement
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@bloggerslife, From my analysis 0.36c may have been a previous support price but markets do not always hold true to support prices. If you look at the POC (white bars) there is no liquidity/volume at 0.36c . Since my analaysis, you can see we did not break the POC at 0.38c because this was a more recent price point where there is a high volume of liquidity in the market. This is how I define my S/R lines, I am not trying to say I am right or perfect in any way and I liked how you challenged my analysis.
If we do break 0.38c, maybe we will hold support at 0.36c, only time will tell :-)
bloggerslife
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@Little_Big_Movement, Thank you for the analysis. Its an always great opportunity to buy more :)