Hello everyone,
I present my idea about the possible movement of XRP in the short to medium term in comparison with Bitcoin.
Bitcoin currently meets in a correction momentum, personally I think in ABC. One of the likely support and reversal points could be around $38,000, whether it is wave A or wave C movement.
If the bearish pressure is quite high it could also end at the next support level around $32,000, and then resume to the upside.
Given the still present correlation between Bitcoin's movement and that of altcoin, I expect XRP will also encounter a downward movement.
Personally I can't indicate with precision the possible target, but I have highlighted in the chart three possible points of resistance and reversal.
Comments and opinions are welcome.
Have a nice day and be water my friends :)
**NOT financial advice, everyone do their own research**
I present my idea about the possible movement of XRP in the short to medium term in comparison with Bitcoin.
Bitcoin currently meets in a correction momentum, personally I think in ABC. One of the likely support and reversal points could be around $38,000, whether it is wave A or wave C movement.
If the bearish pressure is quite high it could also end at the next support level around $32,000, and then resume to the upside.
Given the still present correlation between Bitcoin's movement and that of altcoin, I expect XRP will also encounter a downward movement.
Personally I can't indicate with precision the possible target, but I have highlighted in the chart three possible points of resistance and reversal.
Comments and opinions are welcome.
Have a nice day and be water my friends :)
**NOT financial advice, everyone do their own research**
There is a possibility that the scenario in orange will play out: we may have finished wave B and be in the making of wave C towards $40,000/38,000.
As for Btc with XRP it is all to be discovered, if we break 0.33 cents a rejection towards the highlighted support levels is possible.