XRP/USD - Live Update
XRP moving EXACTLY AS PREDICTED! I only say that because I know it's everybody's favourite line :-)
Price is correcting nicely and fallen very nicely since the move began downwards. Price is in a limbo at the moment and the chances of it rising right now are quite low. Price needs to come lower first and blow the steam off of the bears. Really, this isn't a sign of pessimism in the market place. The trade looks like a mean reversion trade, where price corrects to a neutral level, for a sustainable decision to be made thereafter.
XRP is going to trade downward to one of the scenarios. They are:
1) I believe price will probably hit the horizontal support zone at 0.4440 and 0.4140 (Which coincides with the previous corrective high.)
2) If price breaks the horizontal support zone between 0.4440 and 0.4140, it could go lower towards 0.3500 and 0.3160.
Bear in mind that had price break the first support zone, there is also a small chance price will find support on the 200 major moving average support level before hitting the secondary support zone, but this is subjective and will update analysis if this becomes a stark possibility.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
Please leave a LIKE and FOLLOW. I'd really appreciate it.
Thank you for your support.
Price is correcting nicely and fallen very nicely since the move began downwards. Price is in a limbo at the moment and the chances of it rising right now are quite low. Price needs to come lower first and blow the steam off of the bears. Really, this isn't a sign of pessimism in the market place. The trade looks like a mean reversion trade, where price corrects to a neutral level, for a sustainable decision to be made thereafter.
XRP is going to trade downward to one of the scenarios. They are:
1) I believe price will probably hit the horizontal support zone at 0.4440 and 0.4140 (Which coincides with the previous corrective high.)
2) If price breaks the horizontal support zone between 0.4440 and 0.4140, it could go lower towards 0.3500 and 0.3160.
Bear in mind that had price break the first support zone, there is also a small chance price will find support on the 200 major moving average support level before hitting the secondary support zone, but this is subjective and will update analysis if this becomes a stark possibility.
Where do YOU think price is headed? Leave a comment with a chart and let's share our thoughts!
I never ask anything from my supporters, but I do have a small favour to ask of you guys... If you see comments in the comments section that are trolling/insulting to me, or any other person who's contributing to the comments section, then please Flag/Report their comments right away so we can get rid of people that aren't contributing to this site in a good way. Let's work together to make this site a better place for everybody. :-)
Please leave a LIKE and FOLLOW. I'd really appreciate it.
Thank you for your support.
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