. There is a possibility of temporary retracement to suggested support line (0.19). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. XRPUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
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Look at Ripple's price action when it is divided into three parts: a symmetrical triangle surrounded by a downward move on either side.
The first downward move is a useful guide of future moves since we know it has completed. This move is measured by the yellow box labelled 'price range 1'. This range is copied...
Ripple has dropped strongly and is now approaching major support at 0.8224 (Fibonacci extension, Elliott wave structure, horizontal swing low support, bullish divergence) and a strong bounce could occur at this level to push price up to at least 1.1511 resistance (Fibonacci retracement, horizontal overlap resistance).
Stochastic (34,5,3) is seeing major support...