XRPUSD When Will That Forgotten Ceiling Rocket Arrive? FOR BITSTAMP: XRPUSD by TradingShot – Technische Analyze – 2022-12-31 10:40:05

XRPUSD has been trekking lower since September 23 at 0.618 Fibonacci retracement level. More specifically, since the collapse of FTX on November 8, it has been trading below the 1D MA50 (blue trend line), which has had three rejections so far. At the moment it is also below 1D MA200 ( orange trendline), as on Friday the two formed their first 1D Death Cross since December 30, 2021.

Since the bear cycle started following the top on Apr 14, 2021 and forming the (unbroken) lower highs trend line (bear cycle resistance), we’ve had two more Death Cross patterns, one that immediately started a strong rally (Jul 18, 2021) and one Easy to sell (30 Dec 2021). Because the price has fluctuated between 1D MA50 and mid-June support area (0.31450 – 0.28680) This crossover is likely to occur authorize The eruption that occurs first. A break above the 1D 50 moving average would target the trend line of the inner (dashed) lower highs then April 2021 by extension, while a break below June support area Will target -0.236 Fibonacci extension (As of May 11, 2022) if not less (-0.382 Fibonacci).

In the long term, we can only expect XRP to turn into one The upside If it breaks above the 2021 lows, the 0.618 Fibonacci level is preferred, as it failed on September 23, to be the first higher peak in more than 1.5 years.

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