As Expected, Ripple Is Facing The Anticipated Resistance-Mark!

Updated

Hello, Traders Investors and Community, welcome to this update-analysis on the middle-to-long-term-perspective looking at the XRPUD-trading pair, as I told in my recent analysis about XRPUSD we have still plenty of resistance above our heads which just confirmed right in the last time and there is the possibility given for now there is a high possibility given for a reversal to the downside when the bullish weakness increases further. I highly recommend that you look at this analysis when going to my account and watch the recent XRPUSD analysis to have a full-perspective on today's situation. Okay, my friend's lets have a look on my chart there we can see that XRPUSD bounced into the strong resistance-zone between 0.18750 and 0.20200, this resistance zone marked in blue builds also a coherent bearish-confluence level together with the EMAs you see in my chart, this is why this zone shouldn't be ignored at the moment. So what can we expect when XRPUSD declines further because of the huge resistance? In the case XRPUSD falls more and leaves the resistance zone which you see in my chart to the downside we can expect support in the zone between 0.15976 and 0.17056, you can see this support-level marked with the green box in my chart, in case XRPUSD visits this level again we have good support in this range. No on the other side there is a little possibility given for a bullish continuation, in this case, XRPUSD would consolidate between the 0.19 and 0.2 range before it breaks-up higher, as I told already in the recent analysis this scenario is also given but it is more likely that we see minimum a correction first. Now when the unlikely bullish scenario sets in we can expect a move higher to the 50 % Fibonacci-resistance at o.23 you can see this level marked in grey with text and a trend-line in my chart, this is the next significant resistance-zone in case XRPUSD manages to glide higher. This scenario is confirmed when we close above the EMA and confirm it as support otherwise the bearish scenario with the respected trend-line will set in and we will see the correction.

Okay so now we should have a good overview of the situation, remember that either case has to be confirmed accordingly before trading the proper direction when confirmed, always wait on the confirmation and take the trade with the highest possibility, my friends! I see many people guiding others into giving a 100 % promise on this or that scenario, this cant be the approach for a wise trader, we should always look on the given moment as clear as possible and considerate the opportunities which are given to place trades with the best possibilities playing into the trade, therefore, detach ourselves from mere speculation.

Thanks for watching my analysis, feel free to support my friends and don't forget as I always say:
The ambition to transform opportunities into gold remains the most significant tool for a trader.
In this manner FAREWELL

Information provided is for educational purposes only and should not be used to take action in the markets

Note

ANALYSIS UPDATE: XRP greatly bounced in the most prevalent support of this whole dynamic price chart from where it made a massive price move into the countered bearish direction.

The price action in XRP has been backed by the bull market factors of the cryptocurrency market and bitcoin price action as well to confirm the bullish volume to execute bear short positions in a significant way.

VincePrince

►✅JOIN THE BEST+ TOP TELEGRAM TRADING CHANNEL: t.me/VincePrinceForexGoldStocks
►🚀Write To Join the Elite VIP Signal Channels: @Vince_Prince
►🔥JOIN BYBIT TOP EXCHANGE►🎁 UP TO $30,000 BONUS NOW: partner.bybit.com/b/VinceByBit

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.