✴️ XRP Bulls Are Back... New Targets

In a previous trade idea we talked about consolidation and EMA100... We have new, better and stronger signals.

XRP while it was consolidating above EMA100 remained below MA200, a more important indicator to gauge the strength of an altcoin pair.

19-Jan. XRPUSDT recovered above EMA100 and closed above MA200, which is pretty good in of itself, but then it went forward, harder, yesterday and it grow above October 2022 downtrend line and it stays above this level today with a candle already showing a long lower wick.

The daily candle is yet to close so it can change, but a long lower wick means that the bears/red, tried to push prices lower and failed. Sell pressure was quickly nullified, everything was bought back up by the bulls.

The next target is set at $0.4600 while we remind ourselves that patience is key.
Even with this target getting hit, this is only the beginning... We have to wait, let it develop, and see.

$0.7192 is also in the cards... Be smart and plan how you will handle your trades.

Namaste.