XRP, A Flash In The Pan, Or The Start Of Something Bigger, Let Fibonacci Guide You
ONE44 Analytics where the analysis is concise and to the point
Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.
XRP
Ripple is no different than any other market when it comes to using the Fibonacci retracements with the ONE44 rules and guidelines.
You can see on the chart where all the other highs and lows held Fibonacci retracements in 2021 and the first part of 2022 on the chart below.
We will pick it up from the high on 9/23/22 when it hit 23.6% back to the 9/7/21 high (61.8%). Stopping at this level told us the market remains very weak and to look for new lows. As always we watch all the retracements on every move to see just how weak, or strong the market is and the failure to make a new low that came at a 78.6% retracement on 11/10/22 and then hit a couple other times tells the bottom could be in based on the ONE44 78.6% rule.
Any market that hits 78.6% should go 78.6% back the other way. This is also where a lot of Bull markets end and start.
It took a lot of sideways trade above the 78.6% level, but in the end it was the start of the next Bull move. The big move up on 7/13/23 took it right to 38.2% back to the ATH and it immediately backed off from it. Following the ONE44 38.2% rule, this can take it right back down to the lows. We are watching all the retracements on this setback and right now it is holding 38.2% of the recent rally at .6800.
Holding a 38.2% level of a smaller move on a setback from a much larger range would be a strong sign for this market, use this as the swing point for the week. Above it, look for new highs for the move, the long term target will be 61.8% back to the ATH at 1.3200. A failure to hold .6800 should send it down to 78.6% of the same range at .4200.
When using the Fibonacci retracements with the ONE44 rules and guidelines you can get a better understanding of the flow of ANY market.
You can get more on rules and guidelines by watching our video on our website https://www.one44analytics.com/ and YouTube.
You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.
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