XRP has repeated this sequence 4 times, almost to perfection.
The first consolidation period lasted for approximately 9.5 days and resulted in a 533% rally from the previous ATH pivot.
A retracement of 78.6% ensued throughout the second sequence.
The second sequence lasted 5 times longer than the first consolidation period and resulted in another 533% increase from the previous ATH pivot.
A retracement of 78.6% ensued throughout the third sequence.
The third sequence lasted 5 times longer than the second sequence and resulted in (yet again) another 533% increase from the previous ATH pivot.
I expect another 78.6% retracement to occur. This will put the price of XRP below 1$.
The first consolidation period lasted for approximately 9.5 days and resulted in a 533% rally from the previous ATH pivot.
A retracement of 78.6% ensued throughout the second sequence.
The second sequence lasted 5 times longer than the first consolidation period and resulted in another 533% increase from the previous ATH pivot.
A retracement of 78.6% ensued throughout the third sequence.
The third sequence lasted 5 times longer than the second sequence and resulted in (yet again) another 533% increase from the previous ATH pivot.
I expect another 78.6% retracement to occur. This will put the price of XRP below 1$.
评论:
The spike higher than the 533% level was a result of buyers continuing to purchase out of emotion, creating overbought conditions.
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Accounting for the slightly higher pivot (not calculated using the all time high), the retracement target is approximately 87c. This is the revised price.
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Target Achieved.
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87c Spot on.
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Possibly another opportunity for an entry coming up! $
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Aright, time for another entry back up to 2$! Idea to come soon!
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