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 0.6300, and then create an impulse move upwards. 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 now bullish and is going to continue to create another impulse.

The descending trendline has induced a breakout buy for the prices.

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. If it touches the EMA 50 at retest, we can either consider it as a profit booking or we can look out for the breakout from the EMA 50 to continue moving up.

Ripple buys from 0.6300

Aug 12 2023

Stop Loss -3.93%

Holding time 1d20hr

0.62579

Entry price

0.60120

Stop loss price