Another attempt on Ripple buys
Vasl Capital
XRPUSD·
Feb 25 2023
Take Profit +19.03%
Holding time 18d15hr
0.36981
Entry price
0.44018
Take profit price
Ripple is in an uptrend with the formation of higher highs and higher lows. This trend needs a corrective move towards the support side at the given price of 0.3850. This will be the price zone of the buys we will take from the support onwards.
The ascending trendline will be in confluence once the market falls towards the support level and holds the trendline with the retest level and reject it. O nthe other hand, we have a breakout buy induced by the descending trendline. This will catapulate the bullish move.
The retracement level at 75% is a little below the support level we have identified. This could lead towards the upper side from the revert back area.
EMA 50 is bullish and has another opportunity at the retest of the support level from where the market can retest and reject and continue moving up. We see 3 confluences on the support level.
RSI is at 42. It will be a strong confluence if a bullish divergence is formed at the over bought region.
CONCLUSION: BULLISH