✴️ XRP Bullish Resumption Just Around The Corner
Patience is key... This retrace is so small, so short in duration that it shouldn't count as a retrace.
➖ XRPUSDT peaked 13-Nov., less than two days ago.
➖ Yesterday it wicked below EMA21 but clearly closed above this level, the bulls showed up to counteract the bearish force.
➖ Volume is good/high on both side but the bulls have a slight advantage in this developing bullish trend.
➖ Notice that EMA21 and where XRPUSDT trades right now matches perfectly the 0.382 Fib. retracement level for the entire wave that started after the 17-August low.
➖ If a pair is strong, it tends to recover before hitting 0.618 Fib. retracement, normally at the 0.382 level.
➖ Here XRPUSDT hit below 0.382 but failed to reach 0.5 Fib. and thus the bulls did show up to buy everything up.
Consider the trade idea about Bitcoin and the TOP Altcoins, and XRPUSDT being part of this group.
All the technicals remain bullish and there is room for prices to resume growing straight up.
If it does move lower, it should only last a few days and the bullish bias remains valid, active and strong.
Patience is key!
This bullish wave is not over, it has much more to give.
Namaste.
➖ XRPUSDT peaked 13-Nov., less than two days ago.
➖ Yesterday it wicked below EMA21 but clearly closed above this level, the bulls showed up to counteract the bearish force.
➖ Volume is good/high on both side but the bulls have a slight advantage in this developing bullish trend.
➖ Notice that EMA21 and where XRPUSDT trades right now matches perfectly the 0.382 Fib. retracement level for the entire wave that started after the 17-August low.
➖ If a pair is strong, it tends to recover before hitting 0.618 Fib. retracement, normally at the 0.382 level.
➖ Here XRPUSDT hit below 0.382 but failed to reach 0.5 Fib. and thus the bulls did show up to buy everything up.
Consider the trade idea about Bitcoin and the TOP Altcoins, and XRPUSDT being part of this group.
All the technicals remain bullish and there is room for prices to resume growing straight up.
If it does move lower, it should only last a few days and the bullish bias remains valid, active and strong.
Patience is key!
This bullish wave is not over, it has much more to give.
Namaste.
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