We will know within the next week or so how likely this setup is... either way, if it falls below that risk level, get out! If it continues falling it will most likely only fall shortly until the RSI hits 30. I'll keep this post updated.
Looking at the short-term analysis, we can see that there is a wedge forming. The price is currently nearing the resistance. If it fails to break, it will fall below the lower Bollinger Band. This will indicate a breakout as the price will recover in an upward direction. At that point, we could tell the strength of the breakout based on the volume.
We could see a break in the price drops as the RSI has dropped between 20 and 25. Also, there is support at $0.88. Also, with the prices under a dollar, the price has become more appealing for new investors
Ripple has retraced to 50%. It will most likely bounce off, but if it doesn't it will most likely drop to the 61.8% retracement. Hopefully this is it for XRP and the price recovers. Next target is $2.10 followed by $2.53. Any thoughts?
Just as we saw on the last run, XRP is showing a flag pattern. It's consolidating and preparing to break out. I think it will drop further to its support line and then break out. Looking at prices > $3.20. Any thoughts?