Ripple [XRP] oscillated within a short-term range of $0.4332 - $0.4869 between 20 April - 8 May. The mid-range stood at $0.4604.
Price action broke above the recent narrow price compression range, seen from 8 May, and faced rejection at the previous mid-range of $0.4604.
A pullback retest on $0.4413 could see XRP target the mid-range again.
Entry: $0.4423
Take-profit: $0.4604
Stop-loss: $0.4332 (below the previous range low)
RR: 2
Price action broke above the recent narrow price compression range, seen from 8 May, and faced rejection at the previous mid-range of $0.4604.
A pullback retest on $0.4413 could see XRP target the mid-range again.
Entry: $0.4423
Take-profit: $0.4604
Stop-loss: $0.4332 (below the previous range low)
RR: 2
Trade closed: target reached
Although the price didn't retest the expected entry level, it saw a positive reaction from the narrow FVG zone (yellow) and closed above the former mid-range level.
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Disclaimer
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.