Without finding support above $1.11, expect a 80% drop in Ripple's current price. While I misjudged the final massive pump, the fact that Wave 4 breached Wave 1 yet remains a fact. Consider the current market structure as Leading Diagonal formation (still).
Typically within Leading Diagonals, after Wave 5 completes, the bearish correction returns for a diabolical...
My last short term Ripple idea was a bit off key but the larger analysis remains in tact for the most part. The current Leading Diagonal formation is promised to have an extremely deep retracement. To find out the exact target of the super sized zig-zag, we can simply apply the Fibonacci tool to the A wave down (big drop on the red wave)
--- oops, the fib tool...
Although the whole Crypto markets are dumping with Bitcoin.
The XRP is clearly getting sold off.. rather dumped on the markets.
Probably by new deals from Ripple who get XRP and sell it for Fiat to run new businesses.
Maybe new businesses will use advantages of XRP.
But most of it will be exchanged for Fiat.
As XRP only has a small short quick holding time to...
Bearish flag pattern of past week scares everybody who hodl that coin. We think it could be even worse, theres a big possibility Ripple can break to 80cents and then slowly recover after few hours/days. In our It'll be very fast race, as you can see at the chart, breakdown could happen tomorrow, but no one knows, XRP market is very unstable and forecasting it is...
