XRP Preparing itself for the Mega Run
XRP has cleared the 0.702 retracement in the short term and looks good for a retracement to 0.702 i.e 1.54usd.
After this run to 1.5usd region ,XRP may consolidate for a while as seen in 2013 and 2017 cycles where XRP waited for BTC's peak and only started its explosive rally near the peak of BTC in previous market cycles.[assuming that 65k in BTC is not the peak of this market cycle]
Using the rally prior to BTC's capitulation ,placing the 0.236 extension on it, XRP reached out to its full 4.236 extension in 2017 May Rally.
In both cases, XRP's price tumbled heavily after reaching 0.702 retracement.
Current 4.236 extension lies on 11usd.
Structures are matching up at this point.
#NFA
After this run to 1.5usd region ,XRP may consolidate for a while as seen in 2013 and 2017 cycles where XRP waited for BTC's peak and only started its explosive rally near the peak of BTC in previous market cycles.[assuming that 65k in BTC is not the peak of this market cycle]
Using the rally prior to BTC's capitulation ,placing the 0.236 extension on it, XRP reached out to its full 4.236 extension in 2017 May Rally.
In both cases, XRP's price tumbled heavily after reaching 0.702 retracement.
Current 4.236 extension lies on 11usd.
Structures are matching up at this point.
#NFA
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