If we look back in time to 2018 and see the first spike from the XRP price chart and draw from that ATH to the retracing and sell-off, we see some interesting correlation between the FIB extensions and the Wyckoff patterns used in the triangle pattern I've overlaid on this chart.
If we see the same grind and pressure, we could see some relief in price action that trends in the shaded area of the triangle pattern, but I think we are in for a long grind down and one that will really test even the unshakable hands. And may lead us into the remainder of this year and into next for any pricing eruptions.
If I am wrong, then we will look to any buying pressure to break the prices out of the triangle's shade and into higher pricing.
If we see the same grind and pressure, we could see some relief in price action that trends in the shaded area of the triangle pattern, but I think we are in for a long grind down and one that will really test even the unshakable hands. And may lead us into the remainder of this year and into next for any pricing eruptions.
If I am wrong, then we will look to any buying pressure to break the prices out of the triangle's shade and into higher pricing.