XRP is currently standing at the 0.6100 price level at a major support zone on h4. The double bottom has formed and the market can continue its course up and above the resistance. The structure like anything else is now bullish with the formation of higher highs and higher lows. That being said, we are going to continue to buy ripple till its bullish momentum fades down.

The ascending trendline is retesting at the support level where the price action is rejecting it. 

The retracement level of 61.8% is in confluence with the support level, therefore, making it a strong foothold for the buys.

The EMA 50 is bearish and the retest of the EMA 50 can prove to be our profit taking region or continue pass by piercing the EMA 50. 

RSI is at 36. It needs to dwell into the oversold region from where the bullish divergence can be formed and the market can continue moving upwards aligned with the technical factors.

XRP going to be another bullish magnificent

Nov 18 2023

Stop Loss -6.67%

Holding time 43d14hr

0.60825

Entry price

0.56767

Stop loss price