I think this is a good project long term and now looks like a safe time to make a speculative purchase.
Blue line is my forecast for the next 12 months.
Yellow line is my predicted following move.
All of this is just an idea, not financial advice.
Share your thoughts on this idea and the Sphere project as a whole below, interesting in your opinions.
This is a possible scenario if the price stays within the ascending wedge. We need a good green candle next week!
A bounce at this stage would be short term bullish but the chance of a bigger correction are still high. With this scenario you could still cash out at ATH and buy back in much lower.
Lets see what happens in the next few days.
XRP has dropped out of a strong wedge, now resting at the cloud support.
Option 1: this is a fake out and we will quickly move out of the top of the wedge.
Option 2: we break below the cloud and a much bigger drop occurs.
Which way do you think it will go, or do you have a different idea?