XRPUSD: Ripple Is Showing A Bullish Set-Up

XRPUSD turned into a bullish mode from 0.45 level with impulsive manner just like other cryptocurrencies. We know that impulses show direction of a trend, especially if we see five waves and which means more upside will be expected after a three-wave (A)-(B)-(C) of retracement, which is already underway and maybe in late stages. Support zone is coming at 0.62-0.70 area and around 61,8% Fibonacci retracement. So be aware of a bounce in coming days and if Ripple goes back above 0.80 level, then we may consider that correction is completed and bullish trend confirmed.

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Hello Crypto lovers! It's time for update right? Well, when we take a look at chart, we can see that rally in April was much more impulsive than a decline in May, so it should be corrective within uptrend! We can also see some evidences of a reversal, MACD indicator is showing divergence and we can see a big increase in volume, but EW is our primary tool, so we strongly suggest to wait on five waves up to confirm a reversal. Bullish confirmation is only above 0.76 level.

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Just like other cryptocurrencies, even Ripple turned nicely from projected support level around 0.55 level, so here as well be aware of more upside, because correction can be completed! When everyone turned bearish, we stayed bullish.