Last couple days xrp goes a parabolic run and it needed to goes back and consolidate for healthier price action to the upside.
I mentioned this on my previous ideas on XRPBTC. I sold 5-6 days ago all of my holdings and was expecting this move.
Probably market selloff makes it easier this action to happen but nevertheless it was needed.
Volume was decreasing for the last couple of days and we were in highly overbought zone. I expect XRP to retrace to the 1750 sat area at most and not go any lower.
From there, we could see a W pattern on bolinger bands which means another retrace after price goes back up from 1750 area. I draw what i expect on the chart but we have to wait and see!
Price can also go directly up without making another retrace because we are in a strong bull crpyto market!
Im not expecting a sharper move to the downside other than 1750 sat area.
Lets see what happens.
I mentioned this on my previous ideas on XRPBTC. I sold 5-6 days ago all of my holdings and was expecting this move.
Probably market selloff makes it easier this action to happen but nevertheless it was needed.
Volume was decreasing for the last couple of days and we were in highly overbought zone. I expect XRP to retrace to the 1750 sat area at most and not go any lower.
From there, we could see a W pattern on bolinger bands which means another retrace after price goes back up from 1750 area. I draw what i expect on the chart but we have to wait and see!
Price can also go directly up without making another retrace because we are in a strong bull crpyto market!
Im not expecting a sharper move to the downside other than 1750 sat area.
Lets see what happens.