XRPUSD is approaching our first support at 0.3245 (horizontal pullback support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 0.3985 (horizontal swing high resistance, 61.8% Fibonacci retracement, 61.8% Fibonacci retracement). Stochastic is also approaching support where we might see a corresponding bounce in price. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
XRP recently broke it's weekly support trend, rejecting hard off of it's two week support. XRP is now trading within a symmetrical that will break within 2 weeks. BULL SCENARIO If break is bullish expect resistance in the $0.40-$0.47. If a bull run sees continuation, bulls will face little resistance until the $0.60-$0.62 range. BEAR SCENARIO A bear break would expect XRP to find support at $0.31-0.32. If bears find continuation, prices could test $0.30 again. Ultimately, XRP has compounded support for months near $0.30, leaving next to no gains to be made for would be shorts these prices. CONCLUSION While my short term mentality is neutral, unless something catastrophic occurs regarding Ripple, XRP can only go one way. After all, which would you rather trade? A maximum of a 15% dip or approximately a 77% pump? We all know where this is going, most are just too afraid to admit/accept it. Be sure to hit that thumbs up if you agree so I can start sharing article/video links discussing fundamentals regrading the trends I've been regularly posting about!
After a logn bearish run in the higer timeframes finalyl we can see a bullish move on soem coins ,so right now i would like to try to go long as a very interesting set up is been presented here with some nice confirmations to aim for a 11% to 15% and those are : 1.Broke the major descendign weekly TL 2.Created a new high in the lower tiemframes 3.closed abvoe previous high and shadow 4. new bullish 1st structure formed and holding above the MP 61% fib