XRP
Long

XRPUSD Channel Up guiding it to $17.00

1328
XRPUSD is trading inside a Channel Up and amidst today's market bleeding, it almost touched its 1day MA50.

This trendline has been supporting since the November 7th 2024 breakout, which was after the U.S. elections.

Technically this is the first buy entry for the remainder of the Bull Cycle and the last one is on the 1day MA100.

If the Channel Up continues sideways before it breaks, then the 1day MA100 should be tested. Otherwise, we may see an immediate break out.

The 1day RSI however is so far similar with the July - October 2024 consolidation, which favors a little more the probability of a 1day MA100 test.

In either case, the technical long term target is the 2.0 Fibonacci extension at 17.00.

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