During a few days, in XRP/USD, the price has fallen to a ridiculous level closed to 0.2!!
I don't consider FOMO or FUD from the news, but I guess XRP price's increasing trend was changed even though retracement is generated to 40% because of volumes.
With the highest volume by panic sell, XRP needs collection wave for a very long time.
Sure, I hoped nice V-shape rebound but it was not. So in order to make a power to increase the price again, collection wave with big variability or long time is essential.
I guess 200% increment for just 3days of XRP was possible by very very very very long and boring collection waves from 2019 March.
To reduce a new collection period, XRP needs a second plummet with a very high volume but lower than the highest.
I don't consider FOMO or FUD from the news, but I guess XRP price's increasing trend was changed even though retracement is generated to 40% because of volumes.
With the highest volume by panic sell, XRP needs collection wave for a very long time.
Sure, I hoped nice V-shape rebound but it was not. So in order to make a power to increase the price again, collection wave with big variability or long time is essential.
I guess 200% increment for just 3days of XRP was possible by very very very very long and boring collection waves from 2019 March.
To reduce a new collection period, XRP needs a second plummet with a very high volume but lower than the highest.
Note
Surprising price. OMG...But unfortunately, volume is not enough to raise the price.
If the second panic sell will be with low volume, XRP will need a very long time to recover these prices. Even though the price plummets again, it is positive with the high volume. The worst-case scenario is to be forgotten or abandoned with low volume. I hope xrp reaches the price which attract buyer ASAP.
Note
Yesterday, there was a rebound near 0.17 with a high volume. I guess this price can be the lowest price on this plummet. I hope the new XRP holder with this price hold until new raise.Trade closed: target reached
Great volume and price
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.