Hello TradingView Family / Fellow Traders,
XRP has been overall bearish trading inside the falling channel in red.
However it is currently approaching the lower bound of the channel and a strong support at 0.54.
đ As long as the support holds, we will be looking for short-term buy setups on lower timeframes.
đč For the bulls to take over from a medium-term perspective, we need a break above the last major high at 0.625.
đ If the 0.54 support is broken downward, we will expect further bearish movement till the 0.5 support where we will be looking for new short-term buy setups.
đ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr
XRP has been overall bearish trading inside the falling channel in red.
However it is currently approaching the lower bound of the channel and a strong support at 0.54.
đ As long as the support holds, we will be looking for short-term buy setups on lower timeframes.
đč For the bulls to take over from a medium-term perspective, we need a break above the last major high at 0.625.
đ If the 0.54 support is broken downward, we will expect further bearish movement till the 0.5 support where we will be looking for new short-term buy setups.
đ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Richard Nasr