As you can see from my count this was a three wave correction that has now come close to completion which is why I would expect the price of Ripple to decline in the upcoming period.
Nice idea on XRPUSD and there may bearish bias as you have identified. For our set up, we have identified the key resistance and support levels. The resistance level that we have identified at 0.4955. It is a horizontal swing high resistance with a 100% Fibonacci extension and 61.8% Fibonacci retracement. Stochastic is approaching its resistance and we might see a corresponding drop in price. If a corresponding drop does occur, we may want to look closely at the 0.4427 support level. It is a horizontal overlap support with a 100% & 61.8% Fibonacci extension and 61.8% Fibonacci retracement. Excited to see how things develop.
Please look at our idea and tell us what you think.
Please look at our idea and tell us what you think.