✴️ Ripple's XRP Bullish Bias Intact, Let Me Explain!

Multiple reasons why XRPUSD is still bullish... Give me some of your time, boost/like, and let me explain.

The support levels and numbers, regardless of what any troll says, don't change.

We will revisit the chart today, XRPUSD (D) = Daily timeframe.

The most important level as support is now defined as 0.382 Fib. retracement relative to the bullish wave that started after the 2-Jan. low.

This is 0.68776.
XRP peaked 13-July, so 19 days above this level is ultra-bullish.

This level can break or it can hold, the market decides, but as long as XRP trades above it we continue aiming high.

The next important support level is 0.5 Fib. retracement or 0.61391, matching EMA50. XRPUSD would trade strongly bullish, technically speaking above these levels.

So even if a drop shows, everything is still good.

When it comes to bullish potential in general, it is always valid above the 2-Jan. low, that's the long-term support.

Mark your calendars for September 2023, that's when something big will happen for Cryptocurrency and for this coin.

Both the MACD and RSI continue pretty strong.

Consolidation can continue to take place here, which translates into choppy sideways action with a downward bent.

After consolidation is over we will get a price jump.
You read that? A price jump... It doesn't matter what anybody says, the confirmation is in, we got the confirmation in January 2023 and again last month.

We've been calling this thing bullish now month, after month, after month... Nothing changes, patience is key.

Thanks a lot for your support.
I love you! I'll be here for as long as you want.

Namaste.

Comment:

The 0.5 Fib. retracement support level has been hit and the session closed as a hammer. A bounce (up) can easily happen now.

If this bounce is short-term or the resumption of the initial bullish move we have yet to see, but the bigger picture is up, clearly.

Comment:

Very strong confirmation of support, XRPUSD

We can see a wick below 0.5, a very long wick but the closure happened above support which turns this action into a strong bullish signal.

The next day prices move above EMA50 and additional bullish confirmation today.

XRPUSD can be considered strongly bullish above 0.61391.
Bullish wave pending/due.

If it breaks below this level the next support is 0.57234.

Comment:

The bulls are gaining the upper hand and EMA50 has been confirmed as support on the daily timeframe. Aka, bullish.

A good close today can signal a green week ahead.

Comment:

I'll tell you what, selling now is unwise.
Ripple won after years of a large legal battle and the price has been holding above support, not below it but above and this is positive news.

Even if there is additional correction, even if it moves a bit lower before going higher the trend is absolutely bullish, so selling would be a waste regardless.

Going short would be extremely risky and if that is the case then one would need to know when to cover the short and do it fast as any drop can be quickly erased as can be seen from the 7-Aug. wick.

Now, nobody has a crystal ball, certainly not me but consider the market conditions, the chart, the cycles, the trend... It is all bullish and thus the logical action is to be bullish, don't you agree?

Namaste.