During a few days, in XRP/USD, the price has fallen to a ridiculous level closed to 0.2!!
I don't consider FOMO or FUD from the news, but I guess XRP price's increasing trend was changed even though retracement is generated to 40% because of volumes.
With the highest volume by panic sell, XRP needs collection wave for a very long time.
Sure, I hoped nice V-shape rebound but it was not. So in order to make a power to increase the price again, collection wave with big variability or long time is essential.
I guess 200% increment for just 3days of XRP was possible by very very very very long and boring collection waves from 2019 March.
To reduce a new collection period, XRP needs a second plummet with a very high volume but lower than the highest.
I don't consider FOMO or FUD from the news, but I guess XRP price's increasing trend was changed even though retracement is generated to 40% because of volumes.
With the highest volume by panic sell, XRP needs collection wave for a very long time.
Sure, I hoped nice V-shape rebound but it was not. So in order to make a power to increase the price again, collection wave with big variability or long time is essential.
I guess 200% increment for just 3days of XRP was possible by very very very very long and boring collection waves from 2019 March.
To reduce a new collection period, XRP needs a second plummet with a very high volume but lower than the highest.
Comment:
Yesterday, there was a rebound near 0.17 with a high volume. I guess this price can be the lowest price on this plummet. I hope the new XRP holder with this price hold until new raise.
Trade closed: target reached:
Great volume and price
But unfortunately, volume is not enough to raise the price.
If the second panic sell will be with low volume, XRP will need a very long time to recover these prices. Even though the price plummets again, it is positive with the high volume. The worst-case scenario is to be forgotten or abandoned with low volume. I hope xrp reaches the price which attract buyer ASAP.