XRPUSD to HELL? Maybe not, after all.
From September 2014, all the way to the date of publishing this on 05/12/2019, we have seen MONSTEROUS price action both in the green and the red, throughout the entire asset class. Millionaires have been made and hundreds of thousands of dollars have been lost. XRP and it's investors have been no exception, however one could argue it has under performed in terms of dollar appreciation, when compared to other major Blockchain investments such as Bitcoin and Ethereum in 2019.
Looking at this XRPUSD W chart, I decided to go back to basics. A fibonacci retracement, taking the 4.236 at the ATH and pulling it back to it's ATL (on this chart) for the 0 point, stretching from September 2014 to December 2019. I believe that in the W/C 25/11/2019, when XRP reached the 0.236 retracement level and a 95%* retracement was completed, the 'bottom' was reached and a phenomenal upsurge in price for this coiled spring may surprise many looking for further downside.
Looking at this XRPUSD W chart, I decided to go back to basics. A fibonacci retracement, taking the 4.236 at the ATH and pulling it back to it's ATL (on this chart) for the 0 point, stretching from September 2014 to December 2019. I believe that in the W/C 25/11/2019, when XRP reached the 0.236 retracement level and a 95%* retracement was completed, the 'bottom' was reached and a phenomenal upsurge in price for this coiled spring may surprise many looking for further downside.
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