Hello TradingView Family / Fellow Traders,
📉 XRP has been overall bearish trading inside the falling channel in red.
However it is currently hovering the lower bound of the channel and a strong support at 0.5.
As long as the support 0.465 holds, we will be looking for short-term buy setups on lower timeframes.
📈 For the bulls to take over from a short-term perspective, we need a break above the last minor high at 0.55.
🏹 And then for the bulls remain in control and take over from a medium-term perspective, we need a break above the upper red trendline and last major high at 0.6.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
📉 XRP has been overall bearish trading inside the falling channel in red.
However it is currently hovering the lower bound of the channel and a strong support at 0.5.
As long as the support 0.465 holds, we will be looking for short-term buy setups on lower timeframes.
📈 For the bulls to take over from a short-term perspective, we need a break above the last minor high at 0.55.
🏹 And then for the bulls remain in control and take over from a medium-term perspective, we need a break above the upper red trendline and last major high at 0.6.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr