Wow, what an amazing dip until now (until now...!)
My last hope of support is the more than 1 year valid support trendline, currently exact at 0.30$.
If this line should break and a daily candle should close below this one - then RIP Ripple...
One the one side currently we have a very strong support between 0.325 and 0.30 - but what does „strong support“ really mean in the current situation?
And it is not only Ripple with such a huge dip, the most altcoins are similar.
So for the time beeing I still believe that 0.30 will hold, maybe a squeeze below but not a daily candle close.
My only concerns are because of Bitcoin. For me Bitcoin still has a big chance to dip further. A dip to 8500 wouldn‘t surprise me. But that would mean another 25% dip from the current value of 11300.
If XRP would behave similar (or even more like the last days) then we‘re talking about 0.25$ or even 0.20$ what for sure could be a possibility.
So either BTC will not go below 10.5 k anymore then XRP should hopefully hold 0.30 or XRP and a lot of other altcoins decouple from the dip of BTC and try to stay stable or we‘ll see further ugly dips in the next weeks.
Actually in the past weeks the alts didn‘t follow BTC when BTC rise but unfortunately now they follow BTC when it dips.
Strange.
So for now my hope is that the dips of the alts get a little bit less and the awful ratios between alts, e.g. XRP to BTC will be better in the next week.
My last hope of support is the more than 1 year valid support trendline, currently exact at 0.30$.
If this line should break and a daily candle should close below this one - then RIP Ripple...
One the one side currently we have a very strong support between 0.325 and 0.30 - but what does „strong support“ really mean in the current situation?
And it is not only Ripple with such a huge dip, the most altcoins are similar.
So for the time beeing I still believe that 0.30 will hold, maybe a squeeze below but not a daily candle close.
My only concerns are because of Bitcoin. For me Bitcoin still has a big chance to dip further. A dip to 8500 wouldn‘t surprise me. But that would mean another 25% dip from the current value of 11300.
If XRP would behave similar (or even more like the last days) then we‘re talking about 0.25$ or even 0.20$ what for sure could be a possibility.
So either BTC will not go below 10.5 k anymore then XRP should hopefully hold 0.30 or XRP and a lot of other altcoins decouple from the dip of BTC and try to stay stable or we‘ll see further ugly dips in the next weeks.
Actually in the past weeks the alts didn‘t follow BTC when BTC rise but unfortunately now they follow BTC when it dips.
Strange.
So for now my hope is that the dips of the alts get a little bit less and the awful ratios between alts, e.g. XRP to BTC will be better in the next week.