XRP Breakdown and Re-accumulation
This fractal pattern has played out 2 other times in the charts and looks like it could play out again.
Both in 2017 and in 2021 XRP broke out of is descending resistance and then started to bleed back to its trend line.
This 2023 fractal closely resembles the 2017 fractal, if we start to see a slow bleed into the 4th quarter of the year, watch for 1 strong sell wick to the down side in the accumulation zone, that will be your buy signal.
Both fractals in the past had a strong capitulation wicks which were quickly sucked back up into the tight range.
Both in 2017 and in 2021 XRP broke out of is descending resistance and then started to bleed back to its trend line.
This 2023 fractal closely resembles the 2017 fractal, if we start to see a slow bleed into the 4th quarter of the year, watch for 1 strong sell wick to the down side in the accumulation zone, that will be your buy signal.
Both fractals in the past had a strong capitulation wicks which were quickly sucked back up into the tight range.
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