XRP - Strong Support => Wait For The Bulls!

10 thg 5, 2022

Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.

WEEKLY: Left Chart
XRP is overall bearish however it is currently sitting around a strong support zone (0.5 - 0.6) so we will be "looking" for buy setups on lower timeframes.

H4: Right Chart
XRP is forming a channel in red but the upper trendline is not valid yet, so we are waiting for a new swing high to form around it to consider it our trigger swing. (projection in purple)

Trigger => Waiting for that swing to form "and then" buy after a momentum candle close above it (gray zone)

Meanwhile, until the buy is activated, XRP can still trade lower inside the support zone or even break it downward to test the lower support (0.15 - 0.25)

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich