On the top, we have the current XRP chart. On the bottom, we have a close look at XRP in late 2016-early 2017, just before it exploded. You can see it broke out above the pink falling resistance, on both times. It also has fallen below the 200 day MA (in black) on both times. I just showed in a BTC analysis how there is a lot of evidence to suggest that BTC could fall 36% more from current levels, to the 61.8% retrace at 22100. If that happens, and we apply the same decline to XRP, it would take XRP exactly to the pink trendline again. I find that extremely fascinating, since I've been watching for XRP to return to the pink trendline again, after failing to rally above the 200 day MA. That would be exactly the same as what happened in 20116-2017. On the 2016-2017 chart on the bottom, you can see that a very rough looking inverted head and shoulders pattern was formed below the 200 day moving average, and above the pink falling trendline. If we see something similar here, that would be a clear sign that history is repeating itself. In 2017, what followed, was literally a 75,000% bull cycle.
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
I'm The Master of The Charts, The Professor, The Legend, The King, and I go by the name of Magic! Au revoir.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-