XRP could get out of the current short term downtrend
Updated
(Time frame 4H)
Xrp failed to retest 0.45 levels but we did test the 0.5 levels, we so a peak in volume to push the price out of that level very fast. If xrp will be able to break the current downtrend line and make a higher high, we could have a trend reversal for the short term, by getting out of the current zone and reach 0.57-0.67 zone to then build up momentum and challenge the ATH.
If we get a confirmation with a big green candle, we're gonna have a retracement to the 0.585 level. And it could be the last opportunity before building momentum for the ATH.
I'll evaluate an entrance at 0.585 with a tight stop loss under 0.55 levels because we're still under a big accumulation zone with big volatility and also because there's still a gap between 0.5 levels and 0.45 levels that could get filled.
Xrp failed to retest 0.45 levels but we did test the 0.5 levels, we so a peak in volume to push the price out of that level very fast. If xrp will be able to break the current downtrend line and make a higher high, we could have a trend reversal for the short term, by getting out of the current zone and reach 0.57-0.67 zone to then build up momentum and challenge the ATH.
If we get a confirmation with a big green candle, we're gonna have a retracement to the 0.585 level. And it could be the last opportunity before building momentum for the ATH.
I'll evaluate an entrance at 0.585 with a tight stop loss under 0.55 levels because we're still under a big accumulation zone with big volatility and also because there's still a gap between 0.5 levels and 0.45 levels that could get filled.
Note
we failed to break the trend so the price can easily go down to the 0.45 level and close the current gap between 0.51 and 0.45
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