XRP Arc Fractal

BITSTAMP:XRPUSD

Sometimes we see those nonsense spikes coming from XRP, but if you look closely, you will notice that everything makes sense. this morning i noticed this curious arc trend fractal which XRP made also in 2017.

First, the arc line acted as a resistance, taking XRP in a very clear downtrend until it broke it in aug 2017 for then used it as a support in sep 2017. this was the first touch to the ARC line, with a strong response to the upside, but was rejected again by strong resistances and then took the price
back again into the arc line in Dec 2017, taking XRP into a few days to the impressive levels we know today of 3 dollars.

Now today 2 feb 2021 we might have repeated that fractal , (and a bigger one), where the good news is that we have broke the arc line as support, and touched it for the first time, but also getting rejected again by strong resistances. If we respect the fractal we might have to have that second touch of the arc, which will definitelly will pumpp the price to a even bigger price above the last maximum of 3 dollars.

The bad news?, if we respect this arc fractal , we will have to wait for that second touch again, and on the meantime we could not expect the price to break that strong resistances that keep taking the price back. This might come at anytime between today and around the month of November which is the 3/4 part of the arc as in 2017.

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