This is definitely not a prediction, just my opinion. It looks to me like XRP has bottomed out. There isn't much room to fall beyond where we sit, because 0.25 seems to be a strong historical support level. Looking at the overall chart, it would seem that this would indeed be the bottom if we don't give back the consolidation base that took place before the last major bull run that peaked on January 3rd above $3. If there aren't any external influencing factors messing things up, the natural progression of this price should be upwards from the previous baseline. But I could be wrong.
IF we do fail at 0.25, it looks like the next level of support would be at 0.22. I had written about the possibility of 0.22 in the past, but I thought we erased the chances. I would have to take that back, and say that it can still happen. But anything lower than 0.22 just stretches my imagination a bit too far. Whatever the case, it really doesn't matter for those who are in this for the long haul. It might even be motivation for me to double down. But I am only going to risk money that I fully expect to lose. That way, I'm not hurting myself financially, but also putting myself in position to benefit for the long shot.
Right now the only thing I have to report on this is the 4.236 red fib circle boundary that we are approaching. Could this be the point where we pivot and start the road back up the mountain? I don't know just yet. But the Big Green 4.236 is also up ahead of us, and it could turn out to be a major pivot point also. This is definitely not an exciting time to be entertained by the price action. But I'll keep digging for indications of what's up ahead, and keep you informed!
Carlton Flowers
The CryptoPro
IF we do fail at 0.25, it looks like the next level of support would be at 0.22. I had written about the possibility of 0.22 in the past, but I thought we erased the chances. I would have to take that back, and say that it can still happen. But anything lower than 0.22 just stretches my imagination a bit too far. Whatever the case, it really doesn't matter for those who are in this for the long haul. It might even be motivation for me to double down. But I am only going to risk money that I fully expect to lose. That way, I'm not hurting myself financially, but also putting myself in position to benefit for the long shot.
Right now the only thing I have to report on this is the 4.236 red fib circle boundary that we are approaching. Could this be the point where we pivot and start the road back up the mountain? I don't know just yet. But the Big Green 4.236 is also up ahead of us, and it could turn out to be a major pivot point also. This is definitely not an exciting time to be entertained by the price action. But I'll keep digging for indications of what's up ahead, and keep you informed!
Carlton Flowers
The CryptoPro