XRP Bulls Dont Ignore The Level, Still Resistance Above The Head

Hello My Dear Traders Investors And Community, welcome to this amazing update about RIPPLE. There are some good events we have seen the last days in the schedule, as BITCOIN confirmed bullish locally we have several good signs in other cryptos but RIPPLE is still hanging in uncertain waters. When a ticker-symbol is approaching higher or lower it does not immediately mean that it is bullish or bearish! We are looking daily at the mid-term perspective, I recommend that you check out my mid-to-long-term-perspective about ripple when going to my profile and scroll down to the last weekly analysis about RIPPLE!

This resistance between 0.1875 and 0.202 which you see in my chart marked with the blue box and the text is highly important at this moment right now, because there are several resistance points from past price action. Also, the resistance level corresponds with the EMA which you see in my chart, which together marking an overall bearish confluence zone in this area! Right now we are testing this area and it is possible my friends that we advance higher in this zone but there can also be a hard bad bearish pull-back in this area setting RIPPLE apart to where it was. For the first scenario, it will be a hard time to get into the resistance and advance above the resistance when this scenario kicks in we will see a slow movement in this area.

So now what does happen when the bullish scenario does not confirm properly and RIPPLE sets back to previous levels? When RIPPLE pulls-back to previous levels we have some good support zones at the way, please also look at the grey marked trend-line, this trend-line is a trend-line which existed for 2.87 years to the point it was broken, by the way, that makes a big factor in the overall bearish shape RIPPLE is facing right now. This trend-line serves as a good support zone also we have support at 0.19995 which is the 38.2 % Fibonacci-Retracement of the current wave.

What does RIPPLE need to do to turn bullish on the mid-term? Ripple first needs to take out several resistance levels above our heads, at first, this is the blue big resistance box you see in my chart, this is the major factor which has to be taken out for a possible bullish continuation on the middle-term-perspective! Otherwise, when RIPPLE does not establish to move higher in this level there is downside expected as described in the bearish scenario. As I said it is a difficult way for RIPPLE higher right now but as BITCOIN confirmed in several points a good bullish shape there is hope for RIPPLE to follow when the TA confirmed.

I know many of you want just the bull-market back and chill-out like seen in the past where bticoin nearly hit 20 K but it is always necessary to look at the given situation with a clear head and then take the appropriate action according to the price. Always wait on the necessary confirmation and then take the profitable trade, this is was wise traders do in these volatile markets we face today.
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In this manner: The Mind of a trader is the most significant tool to succeed in today's markets.

Thanks for watching, have a nice day and feel free to support for more insights in the markets.
FAREWELL

Information provided is only educational and should not be used to take action in the markets
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