XRP short term downside.
finding it hard to be bullish over the short term for XRP.
- we've descended into a channel towards the downside after our impulsive moves up over recent weeks.
- price wicked through the pivot & perfectly through the 0.618 level favouring farther downside movement.
- #XRPBTC has also rejected from the upper trend lines toward downside movement.
I think a retest of the grey boxes at 1.27000 & maybe even as low as 1.1100 is likely, coinciding with the 0.618 & 0.786 fib levels before seeing some support and slingshots to further highs.
- we've descended into a channel towards the downside after our impulsive moves up over recent weeks.
- price wicked through the pivot & perfectly through the 0.618 level favouring farther downside movement.
- #XRPBTC has also rejected from the upper trend lines toward downside movement.
I think a retest of the grey boxes at 1.27000 & maybe even as low as 1.1100 is likely, coinciding with the 0.618 & 0.786 fib levels before seeing some support and slingshots to further highs.
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