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XRP/USDTPERP Potential Upward Movement

XRP/USDTPERP Long-Term Trend: Bullish

Key Resistance Levels: 1.09122, 1.22495, 1.23000

Key Support Levels: 0.92790, 0.79435, 0.79400

Daily Chart:

The price on the higher time frame posted a double bottom near a strong daily support which led to a reversal and a move higher. The price succeeded to break a relevant resistance around the 0.92790 USDT level with a huge big bodied bullish bar signaling that the buyers are in control.

XRP/USDTPERP Medium-Term Trend: Bullish

1-Hour Chart:

On the lower time frame, the price is traded inside a bullish flag formation where it might complete the bullish head and shoulders with a right leg near the area of confluence. This zone is made by a strong support and the 61.80% Fibonacci retracement which could lead to a move higher toward the target profit.

Signal Idea:

Buy Limit Order @ 0.992100

TP 1 @ 1.088275

TP 2 @ 1.091220

Stop Loss @ 0.960225

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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