In this video we review the different scenarios outlined for the XRP chart. The level we have discussed over and over again is $0.30. The big question, “how it would get there?”, was anyone’s guess. But we all knew it was the key level by monitoring the Fibonacci levels and the Volume Profile of the Visible Range. Our past fractal told us the $0.30 price level is a key level to break for a new bull market, and that we would reach eventually reach there.
Today, XRP’s price reached out and touched $0.30, barely crossing the price level. Now, we wait and see if we can get a clear breakout, or need more consolidation in this price zone. The past tells us we need more consolidation, but in the end, predicting short term price moves is extremely difficult.
What do we know? We know XRP did a -95% price movement during the 2018-2019 bear market, just like it did during the 2014-2015 bear market. So, for the major cycle, we assume the bottom is in, and that it is more likely that XRP breaks up, than breaks down. In the end, the market decides, all we can do is analyze it and try to stay ahead of it.
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