Here is a quick chart regarding Xrp Usd.
We can clearly see what we did to this crypto currency since last year by over speculating it.
Now Xrp is very likely going to make people pay for their greed, by doing the opposite of what it used to do, making them losing money if they are holding the asset.
If Xrp local bubble start is broken, it will test its line of life, which is very likely as the market is crashing.
If this line of life is broken, Xrp will probably be heading to around the blue target.
I drew in green an hypothetical incoming pattern, we might gonna have some bounce around the support.
This target scenario is for the short term, 2/3 months.
I could be completely wrong, and buyers reforming a potential new bubble in the future is a possible scenario, with a bubble beeing why not bigger than this one if market cap grows up decently.
Good luck, stay safe and not too greedy unless you are shorting at the right times.
Xrp playing with fire right now.
Let's see if the local "bubble pattern trend line" holds it as a support.
Bears are intensifying their selling pressure.
Xrp could go below this local bubble trend, and the line could act as a resistance instead of acting as a support.
This could lead to a solid bounce on the support (orange dotted line), around 0.56 usd.
I'm expecting an important bounce if it hits it (green hypothetical pattern).
We are at the 0.56$ value, the value Xrp had in February when Btc was at a 5800$ value.
The Xrp bounce will happen when Btc happens, and it might not be at this current 0.56 value.
Long time we didn't see such a Fomo
However i made 2 mistakes while drawing it, you will notice it when you click the "play" button : i did not anticipate Xrp to crash that quickly.
Second mistake is that the expected bounce at around 0.56 was weaker than expected, as it reached a target of 0.72 instead of 0.79.
I am sorry for that.
I would have preferred to give a positive education rather than a negative one, but this is just the part of this market cycle
I am completely neutral as well, people generally see me as a big bear but i am actually trying to stay the most realistic as possible.
Try to explain that to teens during a bear market of trading hyped wind lol.
It is still possible, but it now depends according to where bitcoin is going to bounce, xrp could still be around the 0.57 when Btc bounces.
Maybe you are right