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 0.5100. This will be the price zone of the buys we will take from the support onwards. We have missed the move earlier, but now, we are also looking at the double bottom for the buys.

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. On the other hand, we have a breakout buy induced by the descending trendline. This will catapulate the bullish move.

The retracement level is in confluence with the support level. This means that the market has the potential to continue marking up.

EMA 50 is bearish right now but also, its ranging in the market as the market has the price action depicted between two levels.

RSI is at 60. This needs to be neutralized at the 50 level in order to filter the down move and continue moving up.

Ripple breaking out from resistance

Apr 16 2023