xrp trend and how to capture it

xrp is the small coin trading between range of almost below 2.00 to above 0.500

due to its high volatility i switched to monthly time frame, so if you are a short trader or can absorb the extra ups and downs of the coin and has longer horizon then only it is applicable according to this setup

As we see from the start the coin opened and made lower low and later after 2 years it breakout and went up high
since the breakout price give huge upside but retracing back to 0.7 on fibs
we have found two similar action in past,
currently the price seem to be declining and coming back to fib 0.7, which on price chart is (0.5200 to 0.500) << BUY >>
Target of 3.400 (based on fib extension) and Stop loss of 0.2990 (below the ascending uptrend dotted black line)

only for investment purpose
trade only you have some confluence with my idea
initiate your trade according to your style and strategy

Let know your views and opinions in the comment


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