Hey Everyone,
Happy Monday, and for some it is, as we have seen a bit on green overnight with BTC and a few dollars in XRP here, but is it enough to reverse the current bear market?
In my opinion, NO.
The latest 5 wave impulse has corrected beyond the 100% mark throwing the pattern into an extended correction,(WXYXZ) the only question now is how low are we about to continue to correct?
Looking at the chart and support lines, we see if we drop below the first white support at approximately $44.00 the next stop is under $27-28.00 as there is no real horizontal support until this price point. Due to the parabolic way XRP moved to the ATH, it has had no time to hover and create any level of support other than at those lower levels.
So right now I think we will climb a little bit higher here (maybe $4-5) If the horizontal support at the $44.00 mark doesn't hold, and if $28.00 support fails... XRP is more than likely going to see $20.00.
Please don't shoot the messenger! Back in January and February I mentioned on another platform some coins/tokens would struggle, and with the parabolic way ripples had climbed, unfortunately I did believe at the time this token would be one of them... and right now being almost July... it appears to have proven me right.
The ideal scenario is for the $44.00 support to hold and XRP to climb higher...
So for now... Safe and happy trading!
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
<3 Lisa
DISCLAIMER:
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
Happy Monday, and for some it is, as we have seen a bit on green overnight with BTC and a few dollars in XRP here, but is it enough to reverse the current bear market?
In my opinion, NO.
The latest 5 wave impulse has corrected beyond the 100% mark throwing the pattern into an extended correction,(WXYXZ) the only question now is how low are we about to continue to correct?
Looking at the chart and support lines, we see if we drop below the first white support at approximately $44.00 the next stop is under $27-28.00 as there is no real horizontal support until this price point. Due to the parabolic way XRP moved to the ATH, it has had no time to hover and create any level of support other than at those lower levels.
So right now I think we will climb a little bit higher here (maybe $4-5) If the horizontal support at the $44.00 mark doesn't hold, and if $28.00 support fails... XRP is more than likely going to see $20.00.
Please don't shoot the messenger! Back in January and February I mentioned on another platform some coins/tokens would struggle, and with the parabolic way ripples had climbed, unfortunately I did believe at the time this token would be one of them... and right now being almost July... it appears to have proven me right.
The ideal scenario is for the $44.00 support to hold and XRP to climb higher...
So for now... Safe and happy trading!
REMEMBER IF YOU ARE PRACTICING SAFE... TRADING ALWAYS USE PROTECTION
(minimise your risk, use a stop loss. Especially in Margin Trades) ALWAYS!!!!!!!!!!!!!!!!!!!
<3 Lisa
DISCLAIMER:
The Legal stuff - I'm not financial adviser. Just a few quick thoughts - remember you sit at your computer, you push the buttons...
PS make sure you give me a like, that way you get updates as I post them.... :) <3
Note
Prices should be cents.... not dollars.. I really should sleep more :P
❣️Lisa N Edwards❣️
TRADE MY SIGNALS
gettingstartedincrypto.com/
LISABOT.TRADE
TTMBOT.TRADE
thousandtomillions.com/
ALL MY LINKS linktr.ee/LisaNEdwards
TRADE MY SIGNALS
gettingstartedincrypto.com/
LISABOT.TRADE
TTMBOT.TRADE
thousandtomillions.com/
ALL MY LINKS linktr.ee/LisaNEdwards
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
❣️Lisa N Edwards❣️
TRADE MY SIGNALS
gettingstartedincrypto.com/
LISABOT.TRADE
TTMBOT.TRADE
thousandtomillions.com/
ALL MY LINKS linktr.ee/LisaNEdwards
TRADE MY SIGNALS
gettingstartedincrypto.com/
LISABOT.TRADE
TTMBOT.TRADE
thousandtomillions.com/
ALL MY LINKS linktr.ee/LisaNEdwards
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.