✴️ XRP Bounces Perfectly Off Support, Resumes Growing

16 Jun 2023

"XRP | Short-Term Drop Followed by Additional Growth!", this is the title of the trade idea shared 10-June.

I am back and this time to remind you or to notify you that this "short-term drop" is likely in and XRPUSD is set to continue growing.

I am looking mainly at three details on this chart in favor of this assumption.

1) XRPUSD continues trading above the long-term MA200 indicator.

2) Today's session has a long lower wick below EMA100 (blue) and moving back above it. A close above this level, very likely, is ultra bullish. Bitcoin already grew by more than 1,000USD today.

3) Perfect bounce off the Fibo retracement level.

These three to me paint a strong bullish signal.

For traders, a tight stop-loss, manual, can be set below 0.45600 and then push hard up. Very low risk and the upwards potential is ultra strong based on the long-term.

Additional support can be found at MA200 (0.42500). Any trading above these two levels and the bullish bias is super strong for XRPUSD.

Namaste.