– XRP is currently sitting on the tripple support support (Horizontal + Trendline + 0.618 FIB) on the weekly scale, which should provide a very good buying opportunity!
– Also we have a symmetrical triangle that will break very soon.
– Bearish volume is very low on the weekly chart as you can see.
– Due to my Elliott wave count, we can be done with this pretty much disgusting wave 4 and continue higher to form a huge leading first wave diagonal!
– Previous all time high resistance (from 2018) is next resistance.
– If we measure a fibonacci retracement for this whole market structure – we are currently sitting on the 0.618 FIB!
– Last weekly candle has a huge wick, which is a sign of rejection and trend reversal.