Ripple Hit Hard

Ripple has been hurt severely in this fallout, currently trading at less than one third of its value as of the beginning of this month. We completely retraced the vacuum zone readers were warned about in this newsletter, finally finding support at the $1 level, which coincides with the lower bound of the Kovach Reversals Indicator, and a nested Fibonacci level. The upside potential is pretty massive, if momentum can reignite, with our first Fibonacci level at $1.23. Otherwise, we can look for further support at Fibonacci levels below $1 at $0.90, $0.85, and $0.70.

Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!

For daily commentary on cryptocurrencies, subscribe to our newsletter!