XRP - Correcting For A Bigger Move! 🤑
The last time we analysed XRP, we were waiting for a bounce off the 0.77 level to take us back to the channel resistance. Price reacted perfectly to our 0.77 structure level and blew past the channel resistance for a total raw gain of 75%!
We may be seeing a deeper correction now before we have another move up. We have 2 clear areas where we are looking to get another entry for XRP.
First area: 0.95 level
+ Structure
+ 50% fibonacci
+ Retest of broken channel
+ Ascending Trendline
Second area: 1 to 1.05
+ Structure
+ 38.2% fibonacci
+ Ascending Trendline
Targets: Back to all time highs!
Watching how price moves back to one of these 2 areas.
We may be seeing a deeper correction now before we have another move up. We have 2 clear areas where we are looking to get another entry for XRP.
First area: 0.95 level
+ Structure
+ 50% fibonacci
+ Retest of broken channel
+ Ascending Trendline
Second area: 1 to 1.05
+ Structure
+ 38.2% fibonacci
+ Ascending Trendline
Targets: Back to all time highs!
Watching how price moves back to one of these 2 areas.
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