EuroMotif

XRPUSD finally made a run, now what? Ripple Retrace or Rebound?

COINBASE:XRPUSD   XRP / U.S. Dollar
XRP finally joined the party with a typical Ripple spike.
As you probably know, it often lags due to large supply.
And it often retraces all of its gains also due to supply.

Will this time be different?
Could it be the awakening?
Can demand outstrip supply?

This is quick plot to map possible support zones.
.457 - .459 looks like a great entry for bullish continuation.
.444 - .447 would be a low risk entry with tight stop loss.
.435 - .439 will be Bulls' Last Stand to preserve uptrend.

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Of course, I have had total FAILS on some ideas too, not going to pretend.
But all of my plots show PRECISE entries, TIGHT stops, and EXACT targets.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

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Jun 22
Comment: Decent bounce off first support but is still fighting the red Fib pushing down
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Jun 23
Comment: Now are at the second support
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Jun 23
Comment: Gorgeous Ping now lets see if it holds, and then it has to make sure the previous support does not become resistance now.

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Jun 23
Comment: XRP with a nice bounce off 2nd support, bulls can not let 1st support become resistance now

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Jun 24
Comment: Nice, might have flipped resistance into support that two nice support zones well confirmed now (at least until next crash) ... Lets see how it goes from here but looking better than it has a long time ....

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Related Ideas

Dude, your analysis is almost as awesome as the Fib itself!
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