"Simplicity is the ultimate sophistication."-Leonardo Da Vinci-
XRP/USD
- Given the current turbulent situation of XRP with the SEC lawsuit still underway we can expect XRP to remain in the back of the minds of many traders who are watching the current situation and either panicking and selling all their XRP or getting more greedy and buying in every single dip in price waiting for a long term bull market once XRP reaches regulatory clarity.
- In this chart I have set a few key levels of support and resistance to have a sense of where the market could take us in the near future.
- Expecting a retest of Weekly resistance at the 0.45$ level unless any bad news keep on surfacing which could take us all the way down to 0.10$ area before any actual retest of resistances.
- If XRP price still hasn't reach a bottom we can definitively expect a drop towards previous support for a retest or even a break towards lower areas as mentioned before under 0.10$.
Remember, nobody can predict the price of cryptocurrencies accurately and anybody claiming the opposite is probably trying to claim your attention and your money. Predicting the price of cryptocurrencies is akin to predicting the weather; the further into the future you try to predict, the bigger the deviation and error rate will be. This is due to the fact that in a complex system involving thousands of variables, some which are know and others which remain unknown, an accurate prediction can only happen if every single variable is correctly accounted for.
Chad trader from ClearThoughtCrypto
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