This has historically been a critical level for XRP and theres a clear correlation between here and the purple bubble at about 1.35, just shy of our 1.618 extension at 1.52
There is also a correlation between .55 and 1.09 it looks like, which we are already above.
I'm not predicting we break up here and now, but its something to pay attention to as we continue making these series of higher lows. But we could! :D
The local double bottom will confirm above .79 cents.
These levels would be mathematically appropriate on this time scale, should we continue to mark up from here and would also fall in line with the idea of an expanding accumulation cylinder here where we would expect trend exhaust at the rising supply line.
The confluence between historical levels and fibonacci ratios is also worth noting, and could be indicative or the operators signature.
A checkback or consolidation prior to moving up would be healthy and its the likelyhood would probably be influenced by BTCs performance coming into this week, but not necessarily. Just pay attention to the levels, and the respect given as we move forward because new information can alter expectations.
There is also a correlation between .55 and 1.09 it looks like, which we are already above.
I'm not predicting we break up here and now, but its something to pay attention to as we continue making these series of higher lows. But we could! :D
The local double bottom will confirm above .79 cents.
These levels would be mathematically appropriate on this time scale, should we continue to mark up from here and would also fall in line with the idea of an expanding accumulation cylinder here where we would expect trend exhaust at the rising supply line.
The confluence between historical levels and fibonacci ratios is also worth noting, and could be indicative or the operators signature.
A checkback or consolidation prior to moving up would be healthy and its the likelyhood would probably be influenced by BTCs performance coming into this week, but not necessarily. Just pay attention to the levels, and the respect given as we move forward because new information can alter expectations.