Alright everyone, lets jump into this LONG-TERM analysis.
First of all, XRP is at an extremely low point right now and is an EXCELLENT buy in opportunity!
Support / Resistance:
As we can see, the trend lines in grey are showing PROVEN support and resistance that go all the way back to XRP's first bull run in which it crossed the 3.00 dollar mark (A 12X if divided by today's value). Currently we are sitting on top of one of the strongest support levels XRP's got. If it brakes through that, we have an even stronger support level beneath.
Fibonacci Retracement:
These Fibonacci levels in blue are showing more recent support and resistance levels. As you can already tell, several of these levels overlap with our trend lines. Additionally, these fib levels represent pre-requested BUY-INS and SELL-OUTS (trust me). Once the price hits these levels there will be increased volatility(again, trust me).
Descending Triangle:
Finally, we have a Descending Triangle which will more than likely act as a catalyst for a Bull-Run. Historically, descending triangles pump the price UP once the price hits the end of the triangle.
IMPORTANT:
Keep in mind that on August 14th when bitcoin fell well below 10,000 dollars XRP fell 17%. MANY alt coins ride the waves Bitcoin makes, always be aware of how bitcoin is behaving when investing in alt coins!
LETS DISCUSS IN THE COMMENTS!!!! GO
First of all, XRP is at an extremely low point right now and is an EXCELLENT buy in opportunity!
Support / Resistance:
As we can see, the trend lines in grey are showing PROVEN support and resistance that go all the way back to XRP's first bull run in which it crossed the 3.00 dollar mark (A 12X if divided by today's value). Currently we are sitting on top of one of the strongest support levels XRP's got. If it brakes through that, we have an even stronger support level beneath.
Fibonacci Retracement:
These Fibonacci levels in blue are showing more recent support and resistance levels. As you can already tell, several of these levels overlap with our trend lines. Additionally, these fib levels represent pre-requested BUY-INS and SELL-OUTS (trust me). Once the price hits these levels there will be increased volatility(again, trust me).
Descending Triangle:
Finally, we have a Descending Triangle which will more than likely act as a catalyst for a Bull-Run. Historically, descending triangles pump the price UP once the price hits the end of the triangle.
IMPORTANT:
Keep in mind that on August 14th when bitcoin fell well below 10,000 dollars XRP fell 17%. MANY alt coins ride the waves Bitcoin makes, always be aware of how bitcoin is behaving when investing in alt coins!
LETS DISCUSS IN THE COMMENTS!!!! GO