XRP - Long-Term and Short-Term View!

15 ene 2023

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

📉 XRP has been overall bearish trading inside the falling brown channel.

XRP is currently rejecting a strong weekly support 0.30 so we will be looking for buy setups.

Long-Term: Left Chart
📊 For the bulls to over from a long-term perspective, we need a weekly candle close above 0.6 which would be breaking both the last major high and upper brown trendline.

Medium-Term: Right Chart
📊 For the bulls to over from a medium-term perspective, we need a daily candle close above the orange zone 0.420. And as price approaches the 0.320 support we will be looking for short-term buy setups.

Which scenario do you think is more probable and why?

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

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich