FX.co ★ Trading plan for Ripple on June 23, 2022

Trading plan for Ripple on June 23, 2022

Trading plan for Ripple on June 23, 2022

Technical outlook:

Ripple prices climbed above the $0.33000 high intraday on Thursday after finding interim support close to $0.31800 earlier. The crypto is seen to be trading close to $0.32700 at this point in writing and is expected to drag towards $0.30600 in the near term. Bears will be poised to hold prices below the $0.33700 mark to keep the structure intact.

Ripple might have already completed its larger degree corrective decline, which began from the $1.91600 highs earlier. The standard flat corrective drop (3-3-5) terminated at around the $0.28700 lows as marked on the chart here. If the above structure holds well, bulls will be back in control and push through the $0.41000 initial resistance in the near term.

Ripple has also carved a lower degree upswing between $0.28700 and $0.33000 which is being worked upon at the moment. The crypto is expected to find support at around $0.30600 which is the Fibonacci 0.618 retracement of the above rally (not shown on the chart here). Bulls will be poised to be back in control thereafter.

Trading plan:

Potential rally through $0.41000 against $0.28700

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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