Market & Ticker: Ripple – XRP/USDC

Date: 29/11/2024

Horizon / Timing:  Tactical Mid-term / 1 to 3 months

Scenario:

According the recent result in US election (trump), we do expect a larger XRP adoption abroad pushing the Ripple token to next upside potential.

XRP reached 1,70 as expected this week and keeps a long-term potential towards max 5,60 in the coming 12 months

Update : XRP is close to 1,70 where a pause can occur in wave 4. We adjust the key support at 0.98 to anticipate a breakout of 1,70 within the upside trend in progress to open 2.25.

Technical Key Elements:

• Auto similar move potential shows target at 1,70 (reached)
• RSI indicator overbought but no divergence
• The Moving average are support
• Fibonacci key support is adjusted at 0,98 while the Elliot wave shows upside potential towards 1,70 and 2,25

Trade Idea conclusion: Buy 

• Tactical Target 2: 2,25
• Tactical confirmation: 1,70
• Tactical support: 0,98 (Daily close)

Chart: Daily Basis (Candle Stick) - Logarithmic 

Indicators: Exponential Moving Average (21/34/89) - RSI (21)

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