Ripple has been in a bearish trend till recently, it formed a lower double bottom on the support level which needs to be evaluated for the bullish pattern to be continued to move up. Although, the whole crypto industry seems bearish at the moment but XRP being the financial system crypto still has the potential to continue moving up. The price for our longs is at 0.5100.

The descending trendline has broken out for buys and the price action has also validated the breakout buy.

After the breakout, market has already retested the double bottom.

The retracement level is in confluence with the support level at the 50% of retracement.

EMA 50 is bullish now, which indicates that the market has shifted momentum.

RSI is at 69. It needs to dwell down towards the neutraliz level to align with the technical factors to continue moving up.

Stacking on XRP

Oct 01 2023