Only for $XRP Holder:
Yesterday I published this article about #XRP where I wondered if we would have a price explosion. The answer came today due to bad data on the US economy
Analysis of xrp according to bearish Elliott waves.
The loss of confidence and the lack of patience in the market causes some extras to take advantage of the situation and force the market to go in a direction that best suits them. However, it also shows the impatience of the whales to make the price fall, it seems that they have information that we do not.
Taking stock of 500 million minor losses and the objective of pushing the market to more convenient purchase areas to take a better position.
Our analyzes remain valid because the $XRP market
It is heading in the direction we had idealized, but with great manipulation and a collapse in price the analysis is practically invalidated.
We have to see big drops as big buying opportunities and those of us who already have potions inside just hold on, that's how we will win.
Analysis according to Elliott waves:
In our previous article (Elliott bearish) we said that the price could visit $0.42 and $0.41, which coincidentally coincide with weekly support, (green lines). which is the projection of the break of wave triangle No. 4.
Synthesis:
1- We are currently at the completion of wave No. 3 of major wave No. 5 (last wave of the bearish trend)
2- The price should not pierce our red resistance line of wave No. 1, wave No. 4 can invade the zone of wave No. 1 but cannot close above the resistance, doing so invalidates wave No. 4 .
3-The blue lines represent the largest pending and accumulated orders in the areas. purchasing areas. the price will eventually bounce off those prices. or not who knows.
4- Average waiting time? No idea! but for xrp holders we are weekly in a zone of cumulative consolidation. long-term buyer areas. Of course if the price falls we will buy more.
5- The manipulation of large capital could push prices lower than predicted and generating false breakouts. invalidating Elliott's analysis. Manipulation pushes the price in the desired direction of the biggest fish. You don't fight it, you just ride the wave.