FX.co ★ Trading plan for Ripple for June 13, 2022

Trading plan for Ripple for June 13, 2022

Trading plan for Ripple for June 13, 2022

Technical outlook:

Ripple has dropped through the $0.30300 mark on Monday after breaking below the sideways range over the last week. The crypto has print a shallow low below its previous swing low around the $0.33300 level and is seen to be pulling back through the $0.31300 level at this point of writing. Bulls might be preparing to come back in control soon.

Ripple is now facing resistance around $0.41000 followed by $0.65000, $0.91500, and higher, while the interim suppor is seen through the $0.30300 level respectively. A break above $0.41000 will confirm a potential trend reversal going forward. Furthermore, the corrective decline from $1.91600 looks to be completed around the $0.30300 mark.

Ripple should ideally produce a bullish turn soon and break through the $0.41000 mark to confirm that bulls are back in control. Also note that as the price dropped through fresh swing lows, the daily RSI refrained from following through, thus producing a bullish divergence. This could be a potential trend reversal zone going forward. Watch out for $0.41000 to be tested.

Trading plan:

Preparing for a bullish reversal soon.

Good luck!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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