Hey, guys,
a quick update on XRP.
The price came to the lower boundary of the sidewall again, failing to break the 0.55 resistance. At this point, the standard rules for working from consolidation boundaries apply, which are break down (unlikely), bounce immediately or with a false breakdown (more likely). The fall is taking place against the background of the ongoing fuss with the court and general negativity on the market. I think we'll see the denouement tomorrow after the inflation data. It is possible that we are seeing a shakeout of weak hands before the trend reverses, but you have to admit that the chart looks weak and has a nasty return on an annualized basis, we have to admit that the holders of this thing have balls of steel and maybe they will be rewarded for their patience (see my previous ideas on XRP). DYOR.
Stay tuned.
