if we get back above the support marked out and break the pivot, i think that would confirm the low is in or higher probability low is in. We are getting close to the monthly open to, a move above would put us into the body phase of the monthly candle and i would then expand a fast expansion up and the wick of the monthly candle should be in.
This is my short term play on xrpusd. if im correct, then Jan lows should hold and im expecting new highs at $5 which would be the 200% fib extension from the current all time highs to January low. If we break January low then i expect price to drop to 1.24. Decent risk reward oppurtunity.
I believe we've made the monthly low as we've moved above the monthly open. Expecting the wick of the monthly candle to be in. We've keyed off a daily level so now expecting the expansion of the monthly body. Targetting previous ATH and then $5 short term