While the, “Is it a security or is it a currency” quagmire continues, I am offering a potential road map for the XRP price!
Hopefully this chart will help everyone, but especially to those that are new to trading, and tend to have a lot of questions regarding buying/selling! There are never any guarantees with patterns, as they tend to follow very closely to each other at times, and then tend to “wander off” a bit, and then re-gain similarities once again! So, in general, don’t expect this to follow like a road map, there WILL be differences! Add in the fact that trading will most likely be halted for XRP, and it appears that the initial court hearing is scheduled outside of that halt date…
Several weeks ago, on a chart that I posted, I mentioned that I was following (2) patterns, and that XRP’s price was rapidly approaching a FORK in the road, and that the (2) patterns were about to split…one pattern had the price of XRP heading much higher, and eventually back to it’s All Time High ( ATH ), and the second pattern had the price heading much lower! Well, we now know which pattern it chose to follow!
So, here is the other pattern that I have been following! While there are ALWAYS differences to patterns, it’s more important to focus on the similarities, and there are NO shortages of those! As you can see, all the major touches on the coincide with each other, and let’s not forget the sequential order too! Also, as you can see, there are no “Moon shots” in the immediate future, if this remains similar – price will be in a range for some time!
Last thing: While the news of XRP being sued by the SEC seems so ominous, try to remember that when compared to LINK, you can see it’s moving in a very similar fashion… in the end, it could be a “Nothing Sandwich”!