After an incredible ride (pump) XRP has broken down and appears to be balancing into the Golden Fibonacci ratio.
Note the 'new' trend lines developing (purple), which were actually established during the rise up - and have simply been extended and initially confirmed.
Current strategy - watch XRPUSD price action vis-a-vis the support trend lines, and look to buy back in as the lower support is further confirmed.
@akilrajpari, the dotted line is a support line, so it may not go as far back as 1.75!
akilrajpari
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@w3ird0, Thanks! I just went long on XRP. I'm a believer!
denjhanekt
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@w3ird0, the dotted lines are simply part of the Fib tool (there are two Fibs plotted, one long term, and one shorter (few days value) but I'm only referring to the yellow highlighted lines of the short action Fib).
denjhanekt
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@jamikr, my best advice is to compare your own findings with mine and other TAs. Best wishes!