The Coming Future
Updated
XRP tends to do these patterns based on previous ones it has made in the past. The left is the comparison, and the right is a zoomed out look of the two patterns. Now take this with a grain of salt as this is mostly pattern analysis and most people don't agree.
From the Corona March drop to August, is the same pattern, just extended a little bit. The ghost bars and the markings on the 1D show that this crazy spike is just a fake out for the moment, until the XRP fractal takes play in Jan/Dec months where it'll moon. The 2017/2018 moon where XRP jumped from .23c area to $3.84 also had a drop then moon; we still need to go through the drop phrase.
Even without the pattern analysis XRP has touched the .32c resistance and RSI and Stoch RSI both show overbought on the 1D. It might play around for a bit in the .32c area but a correction is coming soon. Keep in mind that the current United States is considering another lock down, some states have initiated it already. The UK is already in second lock down. The jobless claims are still increasing, and DOW and S&P look to be heading in a down trend. I believe a drop is coming, around 40% in total. As always, time will tell.
Credit to Mr. Level up for showing this pattern. His calls have been 80% correct which is far better than most traders, as their calls are usually 50% correct.
Not financial advise. DYOR. Trade responsibly, XD.
Note
The blood bath is just starting.Note
The idea still stands, a correction still must come. It only depends on where will the pivot happen. .42, .43, .50, or .80? I do not know. As for day trading it, it seems to do triangles then proceeds to do a burst after.
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