Ripple has been the only cryptocurrency to survive the roller coaster ride of the crypto boom and bust. Right now, resting at the price of 0.3320, we will be waiting for the crypto to tap the level of 0.3100. This means, once market reaches this level, we will take the long position. Apart from this, we also have the bullish formation on the charts, with higher highs and higher lows. 

The descending trendline is pivoted through two major swing points. The prices are reasonably below the trendline and have the tendency to break the trendline through the prices. Once this is done, we will have the confirmation for the bullish side on the Ripple.

The golden retracement area of 75-78.6% stands solid with the confluence of support level. This means, the market will have a strong push hold from the support level towards the upside. 

The EMA 50 has been broken out for buys and is currently retesting the EMA. This retest EMA needs to be done at the support level in order for an added confluence for the technical factors. That being said, we are bullish on Ripple for the push upwards.

The RSI at 60 means we are in a bullish region. This bullish region needs to be neutralized at the 50 level. Once neutralized, we will have another added technical factor for the bullish side. 

In the entirety, we really do see all the technical factors confluence with each other for the move up.

Ripple buys from 0.3100

Vasl Capital

Jul 17 2022