The setup in front of you today is on the :) feel free to check out my previous post for Ripple (chart is shown below).
Price is still respecting the 0.618 and levels, use these to your advantage when entering a position.
Now onto the bigger picture, the curve presented on the chart can be seen across various financial markets and is simply a representation of an asset becoming less valuable over a long period of time.
As price is pushed towards the lowest possible value there are three potential outcomes:
1. Ripple will crash (highly unlikely).
2. It will continue to trade below the curve.
3. Experience a huge breakout to the upside (of course, this is what happened at the beginning of April).
Since the breakout price has closed at the highest level in the past 2 years, I'm expecting the next move up to align with the all-time high, exceeding the previous high.
This post was merely an introduction to the technical side of Ripple, but I hope you gained a lot of insight from this short piece of analysis.
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