What you're seeing here is actually my modified version of bollinger bands. The blue band is not the 4hour band, but rather the 16-hour band from the 4 hour band point of view. The hard rejection we saw a few hours ago was the result of XRP hitting the exact top of that band. We also hit the blue band on the hourly here as well.
So there are two possibilities here. Either all of crypto will be strong enough to overcome the blue band, in which case we will go up and we can probably reference the blue band on the day level. We could see one more correction here, in which case XRP would go back down to the 0.250 level, which would be at the bottom of the 1-hour blue band and the mid-point of the 16 hour bollinger band. If then, XRP bounces on that level, we stand a good chance of going much higher So this may be a gigantic excruciatingly long accumulation period. Or not.
At this point I'm not the expert here. My job was to get you to 0.285 and 0.303.
Is the 24 hour volume enough ? Seems like we need more volume or does that not matter ?
teknoaxe
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@cryptoaruntx, I could be wrong, but that volume spike was the huge sell-off at the top. Ideally the volume spike would have driven XRP above the bollinger-band, but we shall see. I seem to remember this sort of scenario happening with EOS in February, where it shot up, then hit a massive spike down which drove it almost all the way to it's current level, but then continued up to some impressive gains.
cryptoaruntx
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@teknoaxe, oh okay so the selling can bring up becuase more volume after selling can spike , thanks wws wondering about that and how it worked , i sold at 30.5 need to be carefull cause i missed the last pump and buy backed way to early and high price , cant come out of pocket so need to make some good trades. Hopefully it comes back down to .27 you think it may go lower then that ?