XRP/USDC - (BUY) XRP reached 1,70 as expected – Pause before fursther rise expected
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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