Hi,
Ripple seems to be reaching resistance. The recent rally is fueled by new money and Coinbase listing hype. There is diminishing volume despite the increasing prices. I think we may have a deep retracement soon. I've labeled possible price paths. I think there is a lot of new money FOMO buying, when this happens they often panic sell.
I don't actually mean to short the coin. Just to be careful.
Best,
Alex
Ripple seems to be reaching resistance. The recent rally is fueled by new money and Coinbase listing hype. There is diminishing volume despite the increasing prices. I think we may have a deep retracement soon. I've labeled possible price paths. I think there is a lot of new money FOMO buying, when this happens they often panic sell.
I don't actually mean to short the coin. Just to be careful.
Best,
Alex
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Here is the xrpbtc chart coming to the .786
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Price continued higher than 1.618 but has found resistance. Volume seems to be lessening and we have a pretty unstable price at these levels. Should be a retracement now.
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Seems this is all the pullback we will get. I was expecting more.