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 0.500.

The descending trendline is hovering within the price action and has the strength to break the price action towards the upper side to continue moving upwards.

The retracement level of 61.8% is in confluence with the support level.

EMA 50 is bullish now and might take the confluence at the support level.

RSI is at 73. It needs to tap above the RSI 50 after the breakout buy to continue marking up towards the over bought region.

Xrp another position at 0,500

Oct 22 2023