petro90
Short

XRP. I expect a fall of $ 0.315. A possible extension to $ 0.28

BITFINEX:XRPUSD   XRP / U.S. Dollar
After the last wave of the fall, which began on November 6, sellers could not reach $ 0.28. I wrote about this price more than once in my ideas. Throughout last week, the beautiful growth lasted and buyers have tested the global trend line of this coin, which can not be broken through for a year. Pay attention to what volumes buyers have come to this trend line and what volumes were in the story:
With ease, buyers cured 0.45-0.48 $ with the same ease the sellers returned the price back. However, with the current attempt to grow, there is no such ease:
At the global timeframe, this growth does not give me a nice impetus for volumes, and I doubt that with such volumes on this coin it is possible to break through the global trend line .
In addition to the trend line , sellers control the price range of $ 0.45-0.48. In this price zone is the largest amount of volume in this coin. That's why for me this is the maximum growth of this coin. Then I expect a rollback.
If we analyze the marginal positions of sellers, it is evident that they totally closed during growth:
Therefore, I assume that such a beautiful growth without special volumes is the stop loss of sellers at market prices.
Globally, this coin is in a new wedge:
Therefore, there is a high probability of continuing the fall to the bottom of the trend line and the price range of 02.7-0.28 $. But first I expect a test of 0.35 and 0.31.
In the wave analysis after the momentum of growth, we have the first wave of the fall and the end of its correction. Next, I'm waiting for another wave of the fall, which is at a price of 0.35 = 0.618 * a, and at a price of 0.315 = a:
Before the fall, the omnipresent growth of up to 0.41-0.42 $.
Depending on the nature of the fall, I will decide if there is a probability that sellers will try 0.315 and the price will go below or not. So far, I am waiting to work out my goals.
Time to take a break from XRP, not sure about the future of any cryto.
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niiice cheers
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