XRPUSD - Symmetrical triangle broken to the downside. Expecting 0.24$ to act as support.

"There appears to be a need of some bold man who will say outright what is best... opposing the mightiest lusts and following reason only."

-Plato - Laws, VIII, 835-

XRP/USD

1. XRP has just broken out of the symmetrical triangle we spotted yesterday, breaking it to the downside. This shows us how important it is to keep patient and wait for the market to move in your favour. Although this breakout has been on low volume we are still expecting some kind of drop towards 0.24$ before another run up towards 0.45$.
2. Taking into consideration how many altcoins as well as Bitcoin are currently in a retracement period we should be careful trying to place some longs unless we are confident and manage our Risk/Reward accordingly.
3. If XRP can't sustain these key levels we should expect a deeper correction towards 0.21$ or even 0.19$.
4. As previously stated we are still looking forwards to a retest of previous Weekly Resistance levels at 0.46$ which could come in the coming weeks.

Remember, nobody can predict the price of cryptocurrencies accurately and anybody claiming the opposite is probably trying to claim your attention and your money. Predicting the price of cryptocurrencies is akin to predicting the weather; the further into the future you try to predict, the bigger the deviation and error rate will be. This is due to the fact that in a complex system involving thousands of variables, some which are know and others which remain unknown, an accurate prediction can only happen if every single variable is correctly accounted for.

Chad trader from ClearThoughtCrypto

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