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XRP/USDT Potential Upward Movement

XRP/USDT Long-Term Trend: Bullish

Key Resistance Levels: 1.7310, 1.7400, 1.7450

Key Support Levels: 1.5040, 1.3055, 1.1100

Daily Chart:

The price on the higher time frame is in a clear uptrend where it broke all daily resistances with the help of bullish candlesticks with big bodies. A correction might be seen 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 a bullish channel formation. We expect a lower correction to a strong support that coincides with a 61.80% Fibonacci retracement level, and the lower end of this channel. This could cause a move upward again in the same direction of the main trend.

Signal Idea:

Buy Limit Order @ 1.5031

TP 1 @ 1.7322

TP 2 @ 1.7400

Stop Loss @ 1.3885

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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