Over the past 2 weeks, XRP along with the rest of the crypto market has been carrying out an ABC correction, from the local high ($1.41) to the current C wave low ($0.86). While it remains possible that we still need to move lower to mark the end of the C wave, RSI has entered oversold territory on the 4hr chart, and is now reflecting bullish divergence, providing some indication that we have already reached the end of this correction.
I am accumulating XRP between $0.85/0.90, and believe price will enter this region once again before making a big move up. The key resistance area I will be focusing on is $1.23/1.25. A sustained break above this level I believe will send XRP to test the local high, and hopefully a new ATH.
On the downside, if we are to push lower I expect to see strong support between $0.76/0.81.
I am accumulating XRP between $0.85/0.90, and believe price will enter this region once again before making a big move up. The key resistance area I will be focusing on is $1.23/1.25. A sustained break above this level I believe will send XRP to test the local high, and hopefully a new ATH.
On the downside, if we are to push lower I expect to see strong support between $0.76/0.81.