XRP is currently standing at the 0.6230 price level at a major support zone on h4. The double bottom is going to be formed at the price of 0.6060. 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. Our profit targets will be at 0.6700.

The ascending trendline has broken out from the price action towards the bullish side. Now that it is retracing, we will stack in more XRP.

There is no retracement level in this setup.

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 48. Once the market neutralizes at the 50 level, we will see where the market is on the charts to align with the oscillator.

XRP buys from 0.6060

Dec 16 2023

Stop Loss -2.39%

Holding time 8hr

0.60406

Entry price

0.58963

Stop loss price