XRP has been a in a brink of lawsuit decisions since long. The crypto kept on ranging for a long period of time and has now broken the upper resistance from May. This range break means, a first retest has drawn a figuritively bullish momentum. On the second retest, we will take the long position for the continuation of the positions. It will be simple break and retest.

The ascending trendline has been rejected by the price action and is now heading upwards.

The retracement area is in confluence with the resistance turn support level. The area is at 61.8% which has the triggering effect on the move up.

EMA 50 is still bullish and the price action has broken out for buys, The EMA 50 is below the price action and the market tends to continue moving up, if stayed above the EMA 50.

RSI is at 61. This indicates the bullish region and near about the over bought region. We need to wait for the market to neutralize at the 50 levels. At these levels, we will see the technical factors in confluence with the RSI and we will take the long position. 

XRP hoping to go long on

Oct 16 2022