Nice idea on XRPUSD and there may be potential gains as you have identified by going long. The 1st support level that we have found is at 0.4548, which is above the level you are expecting a bounce from. It is a horizontal swing low support with a 61.8% Fibonacci retracement. RSI is approaching support and we might see a corresponding bounce in price should it react off this level. If a corresponding bounce does happen, we have found a major resistance level at 0.6098. It is a horizontal swing high resistance with a 50% Fibonacci retracement.
Please take a look at our idea and share with us what you think.