Incoming 40% collapse for XRP
2024-11-17

** short term analysis, the days ahead ** 

Price action on XRP has returned an impressive 150% gain in the past 10 days. A number of reasons now exist for a reversal and correction. On the above daily chart:

1) RSI and MFI support breakouts. Don’t ignore a MFI breakout, this is informing you money is exiting the asset.

2) Confirmed Gravestone DOJI candle.

3) Price action is currently outside the Bollinger Band. We know 95% of price action trades around the mean, currently 73 cents.

3a) Notice the inward curve on the band? This little observation informs us buyers are exhausted.

4) Everyone on tradingview is long / bullish. Remember the majority will lose money.

www.tradingview.com


Is it possible price action continues upwards and onwards? Sure.
Is it probable? No.

Ww

