On the chart, the darker the line, the stronger the I believe it holds. The yellow & black line is the strongest. Break that with any strength, and we're heading way back down to $1 or sub $1. I don't personally believe that will happen, but it's possible. I see a short term to get us out of the current slump highlighted by the lighter green downwards line, and see the green triangles following that to be ideal buy-in zones. When price bangs up against the black & yellow (or in that region) I expect to see strong buying activity as those that wisely exited in the $3 range will be looking to get back in. Good news will reinforce these positions further.
In previous waves, there's been a slight build up to confirmation of buy-in, and we'll see that happen again before we begin the next wave. I'm not 100% certain how long it might take for the next wave to begin or where the target will be (my guess is between $4 - $6 depending on the nature of news that emerges) but I do expect another move upwards.
If you're still holding, I'd stay in the market at this point. I don't see another strong move downwards happening.
If you're not holding and looking to buy, I'd look for a dip within the darker (or failing that, lighter) triangle.
The one danger I see here is that this could become a massive pattern, with us being in the bottom of the right hand shoulder now. God help us if this is the case
Price action has seemed to snap back around the yellow & black support, which is very positive. Still wary of the H&S which could peak at 2.50.
I'm bullish as heck. We're back on track with the strong support, and with the promise of new partners, I'm feeling very optimistic. The original prediction above is still correct- it might take as long as the green flat top triangle is to rally support around XRP, but ultimately I believe that the diagonal support will hold. Specifically, the downwards trend that is preventing us from skyrocketing right now will in a sense *prevent* a H&S from forming- at least that's what I speculate.
$5 by end of January