XRP/USD [8H]
We are once again at quite sticky territory.
Yesterday we saw enthusiasm flood the global markets after it was clear that Tech stocks saw another quarter of growth, due to NVDIA earnings. All markets got enthousiast in the pre-market trading the next day, including crypto.
But in the afternoon, that vanished extremely fast.
As much as you are most likely tired of hearing it by now, however we cannot go much lower than this, it makes no sense to make a new low after such a huge liquidation event, in combination with the nature of price action hovering down, as we are still inside the pattern.
However, price must make that clear soon, and that's still what I expect.
We will continue to monitor.
XRP/USD [8H]
We are once again in red today, nearing our lower trendline once again.
The ABCDE of wave 1 should be finished as E went lower than D.
We are in dire need of an explosive reaction, at this point there is no in-between it will be either crazy red or crazy green.
As long as the pattern holds, XRP holds together with the other pairs.
We still believe it would make 0 sense to go further down, as the crazy liquidation event has already formed the 'low'.
We remain committed as always, and will once again double down on our analysis.
We will continue to monitor.
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