XRP Failed Advance?The corrections are red yes?
An advance is green.
Consolidation is blue. In this case we have bullish consolidation.
Is this a failed advance?
No. So far the chart is saying that current price action is simply an extension of the consolidation phase. That is, XRPUSDT continues with a bullish consolidation. Sideways while growing slowly.
Four days red and no major retrace. Four days red is literally the maximum since August 2024.
This is an interesting signal. Since August 2024, XRPUSDT has never closed more than four consecutive days red. We can interpret this signal in several ways.
A red close today would lead to a green day tomorrow.
Today can produce any type of move, can be lower but as soon as the candle closes we can expect a green day next. That is because the market continues to fluctuates and it never stays the same for too long.
The green day doesn't have to be a big green candle but it can be the continuation of the slow bullish consolidation. The good news is that bullish consolidation will lead to a strong bullish advance at some point. The bad news is that it tends to become boring to wait. Prices are not growing super fast but it is growing and this is were most people make mistakes.
Beginners want to see 100% growth daily or else nothing is happening but that is not the case. XRPUSDT has been growing since 7-April and look at this, more than 60% growth in a month. With a good entry at the low this can translate into huge profits and that's how it goes. It can grow slowly but surely for months and then boom, out of nowhere a sudden jump. But still, it is growing daily and that's what is most important if you are holding this coin.
It will keep on growing and that's an easy call.
Namaste.
