XRPUSD is showing nice and clean bullish setup formation in the 4-hour chart that can send the price higher, at least up to 0.50 resistance area for wave (C) or maybe even higher within wave (3).
After an impulsive five-wave rally from the lows into first leg (A)/(1), it's actually now in a slow A-B-C corrective pullback within wave (B)/(2) that can find the support here around 0.37 - 0.35 area and from where we should be aware of a continuation higher, especially if the price jumps back above 0.41 region. Invalidation level is at 0.30.
Happy trading!
After an impulsive five-wave rally from the lows into first leg (A)/(1), it's actually now in a slow A-B-C corrective pullback within wave (B)/(2) that can find the support here around 0.37 - 0.35 area and from where we should be aware of a continuation higher, especially if the price jumps back above 0.41 region. Invalidation level is at 0.30.
Happy trading!
Comment:
XRPUSD is in strong recovery mode away from projected support and it's barely trying to break above channel resistance line, so there can be easily room for more gains, especially if we see a break above 0.41 level.
