We have several positive arguments here:
- Stoch RSI oversold on the 4hr
- Stoch RSI about to be oversold on the daily
- Beginning of consolidation on medium to strong support
- Breakout from an originally bearish triangle
- Confirmed outbreak to the upsde from the Fib Retracement downtrend
- linear, sustaining RSI uptrend, with healthy pullbacks (which is to me the most important indicator on XRP as for now)
Due to the nature of the strong resistance at this point, targets would be at 0.778 USDT and - given there is enough momentum - 0.942 USDT.
If the price drops back down into the triangle, a stop-loss at around 0.30 USDT could make sense for a reasonable risk/reward setup, as then there would be enough potential for a low-target at around 0.153 USDT.
- Stoch RSI oversold on the 4hr
- Stoch RSI about to be oversold on the daily
- Beginning of consolidation on medium to strong support
- Breakout from an originally bearish triangle
- Confirmed outbreak to the upsde from the Fib Retracement downtrend
- linear, sustaining RSI uptrend, with healthy pullbacks (which is to me the most important indicator on XRP as for now)
Due to the nature of the strong resistance at this point, targets would be at 0.778 USDT and - given there is enough momentum - 0.942 USDT.
If the price drops back down into the triangle, a stop-loss at around 0.30 USDT could make sense for a reasonable risk/reward setup, as then there would be enough potential for a low-target at around 0.153 USDT.