xrp

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xrpXRPCRYPTO:XRPUSDMrbigmanjust a quick update on xrp we have a break of structure and are bearish, within an ascending macro triangle. looking at simple support and resistance I would say that the next major support would be at 0.83 and as for a timeline if I had to guess we will bounce off support around October to November. this would give us another 40% to the downside and 7 to 8 months to go to reach support. this thesis is only valid if we continue to fall. however, the trend also shows us making lower lows while grabbing liquidity grinding down slowly. IMO until we have a full exhaustion of buyer we won't go higher once all buyers have given up, we will see a reversal until then I see the market maker grinding down slowly grabbing liquidity giving bulls false hope.