XRP bounced off of monthly support at 0.47920 very aggressively and has regained support in the channel created in the middle of March. Not all trend lines have to hold and not saying that this channel is 100% valid, but the lower trend is acting as a level of support that if held would send the price to TP1,2,3&4.
Right now if XRP holds this channel its going to regain access to the 0.572 level of support (also have it marked as TP1 in case you want to take profits there) going up towards the real TP which is TP2 placed @ 0.63198
A successful close over 0.572 would send the price to TP2 which has already been 1st touched, so XRP would continue trending upwards knocking out levels of resistance going long towards TP3&4 placed at the distribution zone of 0.67267 - 0.69401.
On the other hand if XRP breaks out of this channel the price is going to retouch 0.537 as a backtested level of support.
Thank you traders for all your continued support, please remember this $0.63 target won't happen overnight its not a day trade.
Right now if XRP holds this channel its going to regain access to the 0.572 level of support (also have it marked as TP1 in case you want to take profits there) going up towards the real TP which is TP2 placed @ 0.63198
A successful close over 0.572 would send the price to TP2 which has already been 1st touched, so XRP would continue trending upwards knocking out levels of resistance going long towards TP3&4 placed at the distribution zone of 0.67267 - 0.69401.
On the other hand if XRP breaks out of this channel the price is going to retouch 0.537 as a backtested level of support.
Thank you traders for all your continued support, please remember this $0.63 target won't happen overnight its not a day trade.
