Full retrace of XRP respecting the fib, great opportunity to buy

BITSTAMP:XRPUSD   Ripple幣 / 美元
247 2
Market is in a major correction today and from the daily chart perspective, XRP price has done a retracement since its all time high and currently respecting the 78.6% fib retracement level.

EMA and MA has crossover and we're seeing price being surpress even more and people are pressured to sell in fear of losing money.

If you're long on this, a great entry price would be somewhere at 1.2 - 1.35 If you can see the 30 minute chart, people are taking the opportunity to buy.

I'm quite optimistic about XRP future and expect a larger bounce after this market correction.

評論: Seems people are panicking, base on the daily chart. If there's no new support, we're heading to 2 prices at 0.85 and 0.61.
評論: Amazing how XRP follows the fib to a fee. Seen today bouncing off the 78.6% on the daily chart
61.8 FIB on daily looks where neckline started on H&S. I agree with you, this should be the bottom if sellers quit panicking.
xzod GenX9
@cpoleary, Thanks for your comments. Much appreciated.
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