$XRP - 40% jump is reasonable now

The last time the daily RSI was this oversold was in Aug12 after a 225 day downturn, the price then made a 50% jump, corrected and did 200% (green arrows). Its been 400+ days since then and 175 days since the local top and RSI is again at that level

Also on the weekly RSI we are All Time Low (oversold)

It is fair to assume we can see at least a 40% jump

What more, I can see 5 waves done in the downtrend, there should be a reactive bounce to that

Note that, in the LT I'm biased towards lower lows

評論:

The possibility of 10% drop is still valid especially because we are consolidating as a triangle which is typical of the 4th subwave of the 5th wave (red)

However, triangles can be fickle and go up as well (green line target if Yes)

Note that triangles always precede 1 last move in the direction of a trend before reversing, so if we do get the drop, it will be followed by the bounce we have been waiting for