My last XRPUSD analysis end up in stop loss. I guess the 0.41 are bid strongly for if we look closer at the 4-hour chart, it was seemingly back-tested 4 times. Should adjusted the stops lower, that trade could still be alive.

Anyways, assuming any pull-backs are possible good long entries, then putting an order at 0.4250 with a lower low stop at 0.40 is a good try to re-test sell liquidity at 0.47 region maintaining the same call I had with my previous analysis for a next move down towards 0.39.

As far as concered, all I need to know that there are good rounding bottom of supports near the 0.41 area and the more times those were re-visited the more chances of testing higher lost levels.

Who knows this is just a short-term recovery (dead cat bounce) move for XRP or a start of fresh moving up.

A risk:reward scor of 1.79 long trade if done.

Does XRP's Strong Bids at 0.41 Enough to Re-test 0.47?

May 13 2023

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