As we can see ripple already broke down the bull trend twice. Strong bearish trend is still active. Repeating last cycle give next target at $0.90 This is not advise for trading, I just analyzing my charts. H&S pattern is no longer active. Bearish trend is fully active. There is no confirmation for trend reversal. XRP will try to broke again support at 1.60.
My position is Buy at zone 0.85 - 0.95. TP - 1.25
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I was expect more clear bearish trend. But it seems trend is still active! I think slower bearish trend if formed:
It seems we will definitely drop down to 1.60 support level as the trader interest is low and volume is nowhere. There are several possibilities after hinting support level: 1. If interest i kept low, we can see slow moves between orange lines 1.60 - 2.23. It may take several months cycling here. XRP love that place. Several times ripple show that these zones are comfortable for it. There is a chance ripple bounce to 1.85 and create new trend between 1.85 - 2.00. Trend zone is still forming and it is a bit early to determine exact trend zone. 2. Support can be broken. If that happened - I expect same slow movement to 0.80 and I do not exclude chance to drop lower. 3. Go ATH... ?!?! Not really. I did not expect that. First we have to beat the bears.
I was not expect so strong bearish trends. I do not thing we will see 3 dollars soon. Ripple likes to touch some high levels and then go back to sleep.
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Forgot to attach the other picture:
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MA20 already crossed over MA9 on a daily chart. Wow! We will see some massive drop soon.
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This was easy. Waiting for the next last drop.
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The moment of truth! Perpare to buy at 1.00 - 1.10 levels. Target 1.85
This is nothing to do with Ripple, it's Bitcoin dragging everything else down AS USUAL! That shitcoin needs to be removed as holding source at major exchanges (Coinbase etc) as soon as possible before it fucks everything up.
DaSmooth
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@tomlilley81, It's more than a holding source and basis for trading pairs alone. Bitcoin directs sentiment and emotion and that will still take a long time to change. Better fundamentals are inferior to that.