In this video I review today’s price action on the XRP Chart. We have returned to the $0.18 level that we discussed earlier in the week and are now testing to see if this previous level has turned into a resistance. Holding this is critical for a quick recovery. If it holds, I expect us to start moving upward, quickly. If it does not hold, I will expect a longer accumulation phase with a Wyckoff Accumulation.
I also discuss my thoughts on this weeks action in the stock market and the economy as a whole. We are seeing incredible amounts of money printing from the Federal Reserve, without regard to inflation or hyperinflation. We are also seeing many analysts jump into the idea that the Fed will actually save this stock market. However, I think we can all agree, things are not looking good for the broader economy in regards to citizens, consumers and small businesses.
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DISCLAIMER: I am not a financial adviser. Investing and trading is risky, and you can lose your money. The information in this video should not be used to make any investment decisions. You should contact a licensed financial adviser prior to making any investment decisions.