BITSTAMP:XRPUSD
Price broke out of Bullish Flag
Likely to retest to descending trendline as resistance turned support (but may not happen)
TP using length of flag pole and projecting it from the breakout point
SL at 1.30 (base of the flag) - 1ATR
Hidden bullish divergence using RSI
Price hit 50MA
Price at 0.618 fib retracement level
Entry price: $0.92
Stop-loss: previous candle low at $0.875
TP: $1.2 based on trend-based fib extension
Note that this info is only for traders. For investors, HODL!
Xrp broke out of ascending trendlines thrice and plunged to 51cents and currently hovering around 54cents. Now with bearish pennant forming, it will probably plunge to 50c, testing this major support
![XRPUSD: [1-hour chart analysis] XRP Bullish Flag Long setup TP $1.8](https://s3.tradingview.com/e/EBVBDwOX_mid.png "[1-hour chart analysis] XRP Bullish Flag Long setup TP $1.8")
![XRPUSD: [1-hour chart analysis] Long XRP setup with confluence TP $1.2](https://s3.tradingview.com/z/zqq0vEfR_mid.png "[1-hour chart analysis] Long XRP setup with confluence TP $1.2")
