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 0.4200. 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 market is already forming the double bottom at the support region along with the rejection of pinbars.

The descending trendline is on the verge of breaking out for buys but we need to wait and see if the

The retracement level of 61.8% is in confluence with the support level which will pace the way for the market to tap 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. Just recently, it has broken out from the EMA 50 and might continue its steep curve upwards.

RSI is at 46. This is the bearish region and we need to see the oscillator delve into the over sold region in order to form a bullish divergence and continue moving up.

Still bullish on ripple

May 14 2023