The weekly candle closed at a price of $ 0.3218. Buyers could not fix themselves above the price range of $ 0.377-0.387. After a failed high, the price dropped sharply. This coin is in the same situation as BTC. Buyers and sellers behave similarly.

Buyers have sharply closed their positions after an unsuccessful breakthrough attempt of $ 0.377-0.387.

https://www.tradingview.com

Marginal positions of sellers are in consolidation.

If buyers keep $ 0.317, then it is highly likely that this price will start to grow with the first target of 0.377-0.387 $. This price zone remains the critical point of this coin.

Now the price is consolidated under the break of sellers in the price range of 0.342-0.348 $.

https://www.tradingview.com

Therefore, while the price is under this price zone, the probability of a continuation of the fall is greater.

On a wave analysis, the wave of C = 0.618 * A in the price of 0.326 $

If buyers do not keep this price, then sellers will continue to fall to $ 0.28.

Also, at this price, the current wave of fall corrected growth of December 17 by 78.6%:

This means that growth from December 17 could be the first wave of growth and after correction we should expect a new, even stronger wave of growth. However, this is in the case if buyers will hold $ 0.326.

So far, the volumes for sale are small. The purchase signal will come when buyers try $ 0.342-0.348Β or in the price zone of $ 0.326.

*** I also shared this article on Steemit

This is not financial advice. I don’t take into account of your personal investment objectives, specific investment goals, specific needs or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information provided here. The information and publications are not intended to be and do not constitute financial advice, investment advice, trading advice or any other advice or recommendation. Any expression of opinion (which may be subject to change without notice) is personal to the author and the author makes no guarantee of any sort regarding accuracy or completeness of any information or analysis supplied.


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  1. James Diegel

    Back before the last skyrocket I remember thinking this level seems pretty low, maybe I should grab a little just in case. I have not adjusted my holdings since that time, and although I may need to at some point, I’ve kind of made up my mind that the market in the state that it is at present, I don’t really trust it to not come back to that level at some point. In the end, the market has a tendency to do what it wants when it wants irrespective of my moves – so all I can do really is keep an eye on it and trust that some combination of market research, TA, and intuition will keep me from completely drowning. XRP for me is one of those ones that does have a tendency to move up fast when it does, so its medium times like these that seem the most difficult to suss out – and its always nice to see the perspective of others πŸ˜‰

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