RIPPLE Technical Analysis
Ripple (XRP) is showing a nice bearish structure forming, creating a buy opportunity to come in the near future. If we take the short term high of $3.30 and divided it in half to $1.65 that helps us easily define equilibrium. Furthermore one can use Fibonacci retracement to find 62% of the move or deeper depending on your risk appetite. Hope you find this study as fruitful as I do.
Excellent eye. It was indeed one of the most common bearish patterns, called expanded flat 3-3-5. As you can see the bulls were waiting for that and jumped right in!
lol
$2.40 will prove to be a tough low to break, it will be interest when the big boy buyers come and push it higher
i dont believe in supply and demand
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