XRP Buy Zone Entry Idea
Updated
My ideal buy in zone for XRP and a rough idea of where I am expecting price to go once these levels are hit. Will add an explanation soon.
Note
Looking at the yesterdays daily candle close, it was certainly clear that some bullish movement was to follow, this was also always going to happen when you check the lower timeframe MACD, as it showed clear bullish divergence. I would say it's safe to say price will keep climbing to at least $0.32750, where it will be met with a slight S&R zone, and if it can break though, then price will likely retest the previous major S&R zone that can be seen on the chart, however I believe it will then continue down into my buy zone.
If you take a look back on the chart, or any chart for that matter, you will notice that after a significant movement in one direction, it will often be followed by a pullback of some sort, this is of course what defines a proper trend. I believe we are potentially going to witness the last pullback in price before the fall into the buy zone, and then the bulls will officially take over.
Of course though it can do whatever it wants, despite my explanation being justifiable, price has broken through multiple 100% fib levels, and I am almost certain that it is heading to the 161.8 levels and so despite seeing divergence, it's not impossible that price could just keep falling now, however the important thing to remember is that it isn't all about pinpoint accuracy in analysis, it's not essential to predict every move, it is more important in my opinion to make sure that whatever happens, that the execution is done properly.
I am already bough into XRP at prices varying from $0.45 to $0.3 and so I'm not going to miss out if price begins climbing,this is because I believe it's important to buy in on the way down, and not to just hold off until one specific level. The way I look at it, until I see a clean break through the previous S&R zone, I have great confidence in buying in anywhere around the $0.2 mark, and if price were to break through, I would react accordingly.
Note
Almost 3 days after my previous update was posted, price reached my first target of $0.32750 and then continued to smash through towards the end of the night, reaching highs of a little over $0.37.Looking at the MACD it is tough to call where price is heading now.
I would be drawn towards saying the price will head into the next S&R zone, reaching around $0.42 as a safe target as this marks the bottom area of my S&R zone, although it could push further in.
Price is currently at $0.35630 at 3:30am, I'd imagine price will fall slightly to around $0.34500 before then climbing back up.
Once price (hopefully) reaches my next line of resistance, it will then collapse back down right into my 'buy zone', creating a new lower low, as last time price was about $0.02 from entering.
This is of course a long shot and a very tough call to make using such specific prices and turnaround points, so it is quite likely this update will be littered with comments that don't come true, however using whatever knowledge I have it is for now the best guess I have.
I might make a small purchase at the price it is at currently, however nothing too significant as I am confident a better price is on it's way.
Please share this post around to anyone that you think it may interest! We'll see how it plays out. So far so good!
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