XRP/USDT: Bouncing off buying area

---- Mid-term Analysis for the next coming 4 weeks to 3 months - Daily on Daily Chart (LOG)-------

XRP/USDT: Bouncing off buying area

Context
- The Global Crypto market leads by BTC and ETH reversed up drawing a new bullish trend - XRP versus ETH remains flat (no specific under/out performance)
- We are watching at 0,48 as resistance to re-integrate to provide a clear recovery signal in parallel of 2170 ETH
- Watch 0,2990 as key Tactical support


Market configuration

- Graphical Elements :
Graphical Resistance = 0,48
Graphical Support = 0,2990 & 0,1730

- Mathematical Indicators:
EMA ( Exp Moving averages) are Flat = Neutral
RSI indicator (below) is at 50% = Neutral

- Elliot & Harmonic Wave (Fibonacci):
Fibonacci Target (C) B has been already reached = 0,29
Fibonacci resistance of the wave in progress = 0,48
Fibonacci support of the wave (2) = 0,2990
Fibonacci Bullish Target = 0,80


Conclusion

Preferred case => As long as 0,2990 remains support we are looking to buy the dip in the buying area in order to test and then surpass 0,48, before opening a further rise towards 0,80

NOTE: XRP for the time being is trading range with ETH on a mid-term basis - However shows a probability for an upside swing = XRP outperf versus ETH, which can offering a better performance as ETH a head of the Merge.