The price of XRP\USD has touched the 50MA on the four hour chart and held that level. On the Fibonacci Retracement indicator we can see the price had also touched the 0.618 zone and did not breach it. With some room left for the RSI to move lower in to the oversold area we may see a further decline but personally I have taken some long positions in this zone. I believe we should see another move up.
Trade active:
To backup more the long idea and the bullish outlook, on the daily chart the 21MA had already crossed the 100MS and is about to touch the 50MA by early next week or sooner. I am seeing a "Golden Cross" event by end of May which is another bullish sign.
