WARNING - Ripple down 50% - Don't Get Fooled By The News
Hello fellow investors and welcome to yet another trend analysis. Let's get right into it, I think XRP is far from being done dropping, BOTH XRP/USD and XRP/BTC clearly indicates it.
The XRP/USD chart says we are still bearish as we have never taken a high. The volume is still not there despite the big news it remains very low.
The XRP/BTC chart (that I will be posting in the comments below) shows a required square up right under the 0.786 which is becoming a VERY FREQUENT pattern in cryptocurrency, when ever there is a square up right under the 0.786 FIB on a retracement wave the price usually shortly wick to it and it is nearly always a VERY profitable entry point.
I cannot say how far XRP will drop in term of USD value but the XRP/BTC chart is telling me there is a very good chance it will wick to the 0.000048 area which is nearly a 50% BTC value decrease from the current price and that is a HUGE risk to take.
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The XRP/USD chart says we are still bearish as we have never taken a high. The volume is still not there despite the big news it remains very low.
The XRP/BTC chart (that I will be posting in the comments below) shows a required square up right under the 0.786 which is becoming a VERY FREQUENT pattern in cryptocurrency, when ever there is a square up right under the 0.786 FIB on a retracement wave the price usually shortly wick to it and it is nearly always a VERY profitable entry point.
I cannot say how far XRP will drop in term of USD value but the XRP/BTC chart is telling me there is a very good chance it will wick to the 0.000048 area which is nearly a 50% BTC value decrease from the current price and that is a HUGE risk to take.
Please follow, like and comment if you agree!
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XRP/BTC Chart
