Guys, this rally is welcome, but personally, I don't think this is the one which brings us to ATH... I think the "real" one is for end of year (october/november) to maybe 8 euros ! That's why I will take my benefits this time @ 0.79 or 0.90 and try to buy back on the pink support.
Good luck to all !
The downtrend (blue resistance) will be hard to break. We need a clear reversal pattern to break it. It's very likely that we go back to 0.45 before the bull run. The inverted head and shoulder will be complete. This right shoulder will let the trader whoses didn't go onboard to do so, and this way, we will have enough power to break the trend.
Consolidation before the next bull run is starting. According to the previous cycle, we need 3 waves with higher lows as a consolidation before moon end of year. I think that chart show the most likely scenario for XRP during the next months.
If we want to draw a PERFECT inverted head and shoulder, we have to be in 16 days on the 0.5 fib retracement (0.58 euros) to draw the second shoulder, and it's exactly where we will find the big triangle resistance... Hum...
This could be an awesome chart pattern !
(Hope the whales agree)
We allready touch the fib 1 retracement around 6400. If we go lower than this level, this is straight to 3000k. For me it's not likely because this is a huge resistance and I don't think bears have enough power right now. A breakout to reach the 0.5 fib is more likely.
In the case we don't go below the previous bottom 0.37e before tomorrow, and we go back to 0.39 we will find a double bottom and the downtrend will be broken. In that situation, I expect a symmetrical move in the upside direction. Time to FOMO seems near for me.
PS : Excuse my english...