Technical outlook:
Ripple might have carved an interim bottom around $0.50 lows registered on June 22, 2021. Please note that prices have found support at the fibonacci 0.786 retracement of the recent upswing between $0.17 and $1.84/85 levels as shown on the above chart. Furthermore, also note that Ripple has found support around the past resistance turned support zone $0.50-0.55 levels.
High probability remains for a bullish reversal from here at least towards $1.05 levels before hitting resistance again. Ripple is seen to be trading close to $0.60 levels at this point in writing and is expected to turn higher towards $1.05 at least. Immediate resistance is also marked around $1.05, while support is seen at $0.36 levels respectively.
Ripple might be ready to turn higher again at least in a corrective wave towards $1.05 levels. We shall again review when the crypto reaches there to decide further direction. Bottom line remains prices should stay above $0.50 lows, to keep the bullish structure intact over short term.
Trading plan:
Remain long, stop @ 0.36, target @ 1.05
Good luck!
