Look at this!
Just a slight tweaking of the 0.0 fib (disallowing some lower but brief price action) lands the .236 fib right on $1.00.
$1.00 is a very strong psychological level, and has served as S/R area previously.
XRPs price action is now forming an equal triangle, the break out could be either to the upside or to the downside, but current market exuberance would suggest a break to the upside. The measured move of the pattern targets the $1 level !! 3 long bearish and disappointing years may be coming to an end!
As it's been quite popular (ranked *3 for a while!) and has lots of news and exposure, this coin will attract a lot of attention from newbies, as well as established traders, once it makes a break, so the FOMO factor is enormous and once it breaks above the $1, it will very likely carry on and retest it's ATH before the end of this cycle.
BUT!
Famous as being a bear's coin, a good strategy has been to sell every pump, so you can be sure there will be a lot of hungry bears waiting up there at the $1 level so be ready to take the money and run! I would be looking for new orders at the .716, .618 and the 0.5 fibs to reenter.
I'm wondering if the timing with SEC investigation could be a catalyst to set things off, either way, looks like this will get a long awaited pump
Just a slight tweaking of the 0.0 fib (disallowing some lower but brief price action) lands the .236 fib right on $1.00.
$1.00 is a very strong psychological level, and has served as S/R area previously.
XRPs price action is now forming an equal triangle, the break out could be either to the upside or to the downside, but current market exuberance would suggest a break to the upside. The measured move of the pattern targets the $1 level !! 3 long bearish and disappointing years may be coming to an end!
As it's been quite popular (ranked *3 for a while!) and has lots of news and exposure, this coin will attract a lot of attention from newbies, as well as established traders, once it makes a break, so the FOMO factor is enormous and once it breaks above the $1, it will very likely carry on and retest it's ATH before the end of this cycle.
BUT!
Famous as being a bear's coin, a good strategy has been to sell every pump, so you can be sure there will be a lot of hungry bears waiting up there at the $1 level so be ready to take the money and run! I would be looking for new orders at the .716, .618 and the 0.5 fibs to reenter.
I'm wondering if the timing with SEC investigation could be a catalyst to set things off, either way, looks like this will get a long awaited pump