Ripple showed signs of great bullishness in previous period as starting from 27 cents, made 80cents (which was fib based maximum started from that point). Mathematicaly justified price of XRP at peak would be 64 cents, nor a cent more. (with presumption of uptrending from 27 cents after long consolidation-January). However, we had enourmous buys of Ripple these days, but we do have an alert in a form of Bitcoin, shaking Ripple to the core, deflating it. Ripple peak was 9300 sats (64cents), current low is 7786 sats/(51.5cents), while baseline is 8000 sats.
With current movement of Bitcoin and continual shakeoffs (Bitcoin rode to 6800 USD four times, failed to breach that level and now its retracing gradually, dragging entire market down with it. While Bitcoin is still rebouncing over 6550 $, rest of the market keeps deflating goin towards lower levels.
Most important thing, : Ripple had daily bearish crossover on September 3.rd which will be felt today and in coming days as Bitcoin keeps fluctuating and going toward lower levels (6380/6280/6100/5885 along with 5750. Appart from that Ripple's RSI shows downward momentum too, so i would expect very significant retrace on XRP. All those Bitcoin price shakeoffs will be felt over entire market, but as always, Ripple and Stellar are the ones who sinks deepest and regain most (this is one of the way using XRP actually as a leverage, without actually gambling on Bitmex or margin trading overall.
Conclusion :
* XRP will certanly drop much deeper * Dont rush with buys *It's never too late to rebuy rather than sink with a coin you are holding. * XRP drop levels would be 49cents, 47, 44, 41, 37, 32 and eventualy 27 (as making 100% retrace on fractail) so take it easy and i would suggest everyone: Dont make premature buys, so percentage return will be significantly higher if buying on very bottom (27/32/37 cents).
hi mate.
What is the best time and price to buy XRP?
Wavema
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"Dont make premature buys, so percentage return will be significantly higher if buying on very bottom (27/32/37 cents).
Target 37 cents reached. Good advice and good job !
HI @milanjelic At this point do you still believe we gonna see another drop before the bull run?
Thanks mate ;)
richard073
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WOW XRP 0.4
congrats @milanjelic you think more drop XRP ?
or 0.4 last drop ?
milanjelic
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@richard073, Thank you mate.
We have more to go i would say.
JMIV
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Thanks mate.
Very good analysis
milanjelic
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@JMIV, you are welcome mate.
Hopefuly you like the outcome which came to be 12% nominal deflation over US dollar since posting.
I am glad you like it.
Happy earnings.
What is the best time and price to buy XRP?