Long

XRP/USDT : Possible pullback from 50% FIBBO level and EMA 20

Updated

Hello everyone 😃

XRP and have same scale on upward movement for now.
Both has been rejected cause of recently divergence on daily TF. ( There are more reasons that affects market )

But now, the bulls are aggressively attempting to defend the 20-day EMA ($1.26).
This suggests the sentiment in XRP remains positive.
The gradually upsloping moving averages and the RSI in the positive zone indicate a minor advantage to the bulls.

XRP may have one more leg up to $1.54 which is now being counted as a resistance for bears !
There will be two scenario to form :
- Being rejected from bears stiff resistance.
- Break the minor resistance as BTC's grows.

- If the price turns down from this resistance, the bears will make one more attempt to sink the price below the 20-day EMA.
Then XRP could extend its decline to the 61.8% FIBBO level at $1 Conversely ( This level will be protected as MA 50 is approaching it )
It's about BTC now;
27th April is an important day for BTC, If it's rejects bull one more time, Then we may see one more minor dip.

- If XRP manage to break above $1.54;
Then it could put the bulls back in the driver’s seat.
It's about BTC now;
If BTC breaks above bearish trendline, Then movement will be safe one more time for ALTs...

Attention: this isn't financial advice we are just trying to help people on their own vision.

Have a good day!
Helical_Trades

Note

🔴 Market structure is being bearish..
Not recommended to risk allot !

Helical_Trades

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