XRPUSDT ! Consolidation above support. Situation overview🤖

2022年8月13日

XRPUSDT is trading in an uptrending price channel, this is also confirmed by the MA 50 and 200 trend lines. Earlier, the coin broke the downtrend and after confirmation it is forming a strong upward momentum of 25%.

On the chart you can see that the price is trading in consolidation in the long zone relative to the upward price channel. The level of 0.3756 is broken through and the price is consolidating above it. All expectations are for the growth to continue.

I assume that the price can grow. I have outlined two working situations: breakdown of the downward resistance without testing the support. Or rollback to the support of the ascending price channel and in this zone it is acceptable to look for an entry point for purchases. The resistance area of 0.4343 is the target.

Regards R. Linda!