11/7 This may take a couple days, but it's definitely playing out. Just depends on where it will find support. Looking at the VPVR there is little volume until .26
11/8 4 H Chart So far the move has played out meeting temporary support at the .5 fib retrace. MACD is showing change on the pulse but not confirmed. RSI showing oversold, but can hang there more. On the Daily chart is shows more room to the downside, possible target .26
Overall this is normal prior to previous market back in 2016 as this was forecasted as a pump n dump during the Swell event. To get the current measured downside target, I anchored trend based fib retrace and used the VPVR to show additional areas of support or gaps in it. This will be good for anyone currently shorting or waiting to buy into XRP if waiting on the sidelines.
11/8 4 H Chart So far the move has played out meeting temporary support at the .5 fib retrace. MACD is showing change on the pulse but not confirmed. RSI showing oversold, but can hang there more. On the Daily chart is shows more room to the downside, possible target .26
Overall this is normal prior to previous market back in 2016 as this was forecasted as a pump n dump during the Swell event. To get the current measured downside target, I anchored trend based fib retrace and used the VPVR to show additional areas of support or gaps in it. This will be good for anyone currently shorting or waiting to buy into XRP if waiting on the sidelines.
Comment:
Price target reached, may continue to the downside per fundamentals of BTC price movement over the next couple of days. Once we find major support I am projecting a upward bounce to .29-.32 with a 10% retrace.
This is all experimental in forecasting this current trend and to see if it plays out as it did back in 2016.
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