XRP/USDT Potential Upward Movement

XRP/USDT Long-Term Trend: Bullish

Key Resistance Levels: 1.9714, 2.0000, 2.5000

Key Support Levels: 1.4962, 0.7761, 0.2175

Daily Chart:

The price on the higher time frame is trending to the upside by posting higher lows and highs and it showed a parabolic move. It’s a clear uptrend with small retracements. A lower correction might be expected before the continuation of the main trend.

XRP/USDT Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is trading inside an expanding wedge formation where we expect the price to retrace to the area of confluence which is made of a support, lower end of the wedge, and the 61.80% Fibonacci retracement level. This retracement could lead to a move upward to the 1.9390 USDT mark.

Signal Idea:

Buy Limit Order @ 1.5835

TP 1 @ 1.9390

TP 2 @ 2.0000

Stop Loss @ 1.4058

Trade Safely 🙂