From my daily perspective of XRPUSD, it''s still very bearish and on a down trend, however the 4 H time frame was completely doing a different thing just a day ago. Now. the 4 H and the daily time frame has come in alignment. On the 4 H time frame, price has just broken out of a trend line and has retested it, however that didn't give me enough confirmation to go short. I see a barrier of support around 0.4710, now price has bounced off 0.4710 after breaking below the 4 H ascending trend line and i do see price coming to test 0.4710 a second time and possibly breaking below that level.
Also there's a minuary trend line support on the 1 H time frame which i believe price is going to break through before heading to test 0.4710, breaking below it and finally head to 0.4500
Also there's a minuary trend line support on the 1 H time frame which i believe price is going to break through before heading to test 0.4710, breaking below it and finally head to 0.4500
Note
My target on XRPUSD was smashed. This might actually be the best trade of the week for me. lolMy entry on this trade was on the 1 H chart from the last high after the fakeout on the trend line.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.