Hi all,
XRP is currently down nearly 28% from last month's all time high of $0.78. We saw a full 0.618 (68%) retrace from this high to then entering a downward channel. This channel has proven itself through price retracing off the bottom and top numerous times. Yesterday we saw a 20% gain from the bottom to the top, roughly from $0.50 to $0.60. We are still noticing large buy volume coming in, inclining to think that positioning is taking place. The next test done will be between the 0.5 and 0.618 fibs shown on the chart.
Thanks
The Market Sniper Team
XRP is currently down nearly 28% from last month's all time high of $0.78. We saw a full 0.618 (68%) retrace from this high to then entering a downward channel. This channel has proven itself through price retracing off the bottom and top numerous times. Yesterday we saw a 20% gain from the bottom to the top, roughly from $0.50 to $0.60. We are still noticing large buy volume coming in, inclining to think that positioning is taking place. The next test done will be between the 0.5 and 0.618 fibs shown on the chart.
Thanks
The Market Sniper Team
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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.