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 0.3520, we will be waiting for the crypto to tap the level of 0.3400. 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 53 means we are in a bearish region. This bearish region might fall into the over sold area only to form a bullish divergence where market can bounce off strong. This is the area where we will have a confluence area with the support.

A week waiting on ripple buys

Aug 05 2022

1