XRP/USD- Accumulation or Crashing Pattern?
Hi Guys,
Thank you for tuning into my analysis.
XRPUSD
As you can see on the larger time frame,
XRPUSD
is mimicking the trend of BTC/USD. However, a more significant lower high and lower low can be spotted in
XRPUSD
then in BTC.
The green box could signify an accumulation zone provided that
XRPUSD
doesn't break down the $0.55 region. Notice that the $0.55 also constitute my 88% fib level. This shows that the $0.55 level is a significant strong support.
A false break down of the $0.55 could eventually occur but the bulls must manage to bring the price back to $0.55. Otherwise, $0.33 will be met.
I suggest downward cost averaging would be the best idea for this coin. Expect to hold until end of 2018.
Thanks.
CK
Thank you for tuning into my analysis.
XRPUSD
As you can see on the larger time frame,
XRPUSD
is mimicking the trend of BTC/USD. However, a more significant lower high and lower low can be spotted in
XRPUSD
then in BTC. The green box could signify an accumulation zone provided that
XRPUSD
doesn't break down the $0.55 region. Notice that the $0.55 also constitute my 88% fib level. This shows that the $0.55 level is a significant strong support. A false break down of the $0.55 could eventually occur but the bulls must manage to bring the price back to $0.55. Otherwise, $0.33 will be met.
I suggest downward cost averaging would be the best idea for this coin. Expect to hold until end of 2018.
Thanks.
CK
$0.55 -----> $0.48