We posted a few days ago that the next 48-72 hours, XRP would have to either obey the trendline and head higher, or obey the fractal and head lower. After a few days of coiling and delaying its decision, XRP broke to the upside today, briefly nearing $1.06, but settling back down to around $1.00 and trudging slightly higher throughout the day to where it sits now at around $1.03.
We think this is enough to declare that XRP has chosen to trend upward pursuant to the trendline, as opposed to lower pursuant to the fractal. We are NOT out of the woods yet, however - BTC is facing a resistance line that it has failed to clear several times now. I posted a chart about that, I will link it below.
We have a few choices now. We can head back down and scrape along the bottom of the trendline, or we can head up to around $1.15 and face our overhead resistance. Either path will coincide with how bitcoin acts. In fact, the entire crypto market as a whole seems to be facing interesting decisions like we see here in XRP and BTC, and even the altcoin market cap.
The most volatile market in the world is in store for....volatility.
With that said, depending on how things shake out tonight and perhaps tomorrow morning, we intend to update our analysis and point to where - or should I say, "when" - XRP is in its fractal. It excites us to think we could be as far along as "October 6th" according to the fractal. The fractal there suggests $1.30, but depending on how things play out, we think $1.15 might be good enough. We will have to see.
Either way, hope your bags are mostly packed at this point. We believe capitulation is less than 2 months away - and indeed could be sooner even than that. More pain is likely on the horizon. We predict there will be at least one more terrible shakeout immediately prior to capitulation, but that is for a later time and I will sound the alarm as far in advance as possible. Things are always exciting when it is a green day, but remember that it also means paying more today than you did yesterday.
Best,
Buster
We think this is enough to declare that XRP has chosen to trend upward pursuant to the trendline, as opposed to lower pursuant to the fractal. We are NOT out of the woods yet, however - BTC is facing a resistance line that it has failed to clear several times now. I posted a chart about that, I will link it below.
We have a few choices now. We can head back down and scrape along the bottom of the trendline, or we can head up to around $1.15 and face our overhead resistance. Either path will coincide with how bitcoin acts. In fact, the entire crypto market as a whole seems to be facing interesting decisions like we see here in XRP and BTC, and even the altcoin market cap.
The most volatile market in the world is in store for....volatility.
With that said, depending on how things shake out tonight and perhaps tomorrow morning, we intend to update our analysis and point to where - or should I say, "when" - XRP is in its fractal. It excites us to think we could be as far along as "October 6th" according to the fractal. The fractal there suggests $1.30, but depending on how things play out, we think $1.15 might be good enough. We will have to see.
Either way, hope your bags are mostly packed at this point. We believe capitulation is less than 2 months away - and indeed could be sooner even than that. More pain is likely on the horizon. We predict there will be at least one more terrible shakeout immediately prior to capitulation, but that is for a later time and I will sound the alarm as far in advance as possible. Things are always exciting when it is a green day, but remember that it also means paying more today than you did yesterday.
Best,
Buster
